Chinese form Blockchain Group ChinaLedger Union – Plan to Standardise and Open Source Chinese Blockchain Technology

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According to a report in the Chinese press at Sohu.com (搜狐), China has recently organised and announced a distributed ledger based coalition agreement in Beijing referred to as the ChinaLedger Union. ChinaLedger was announced on April 19 at the  third Internet global financial summit by former chief engineer of the Shanghai Stock Exchange, Mr. Bai Shuo who is the director of the alliance. 

Backed by the Chinese General Assembly, the establishment of the Union is the consensus of 11 sponsor units, but they have also invited Alex Baltin, UBS UK Senior Innovation Manager, Anthony Di Iorio, Chief Digital Officer Toronto Stock Exchange, Vitalik Buterin, founder of Ethereum and Bitcoin core developer Jeff Garzik as advisers.

In another article at Chinese site ChainDB.com,  Mr. Bai Shuo said:

“We can not think clearly in the absence of Blockchain integration in the hastily organised international financial sector in China. We need to unite China and find consensus and find solutions in China for Blockchain technology.”

The main task for the newly formed group is to work together and research Blockchain technology in accordance with China’s policies and regulations, the unique business logic of the Chinese financial industry – so that the policies and regulations are inline with China’s national standards, business logic and traditions.

In addition, the future ChinaLedger coalition agreement states that the underlying technology of Blockchain will be open source so that all walks of life can build specific application scenarios based on this agreement.

 

About Richard Kastelein

Founder, Publisher and Editor in Chief of Blockchain News and co-founder and director at Blockchain Partners in London/Amsterdam/NYC, Richard Kastelein is also an advisor with a number Blockchain startups doing ICOs including DECENT.ch, Inchain, Humaniq, Chronobank, eGaas and others.

He is regarded as one of the top journalists by the Blockchain and fintech communities – as is evident by his entry in the Top 150 Fintech journalists online and in the top 10 of the Blockchain Top 100 List. As a prominent keynote presenter, he has spoken on Blockchain at events in Gdansk, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven etc, where he helped spread the cause for Blockchain technology and crypto-currency and, consequently, has built a notable network inthe scene.

In 2013, the European Commission appointed him as an expert for overseeing financing for emerging startups as a part of the European Commission’s 90 billion euro Horizon 2020 project, created in Brussels to promote innovation as a driving force of job creation and business ventures across Europe. He has also worked as an external expert for Innovate UK since 2012, judging startups for the UK government.

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