China releases first national standard for blockchain technology

China's Ministry of Industry and Information Technology has released the first national standard for blockchain technology, aiming to accelerate the development of the emerging industry, according to media reports on Thursday. This provides a basic and universal standard to guide the application and industrial development of the blockchain technology, and it standardizes the functional architecture and core elements of the blockchain system, according to the MIIT. The newly released standard also provides a reference guide for the industry to unify the concept of blockchain, build and improve the blockchain system, and choose and use blockchain services. The center was launched on May 10,Also on Sunday at the ZGC Forum, a state-level platform for scientific and technological exchanges and cooperation, in Beijing's Zhongguancun area, dubbed 'Silicon Valley', according to data provider Statista.