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HomeNewsBeijing Officials Demand Chinese Blockchain Standards

Beijing Officials Demand Chinese Blockchain Standards

Sina Finance is reporting that a Beijing city regulator has demanded country officials to adopt a “standard” approach to Blockchain technology developments.

Huo Xuewen, secretary of Beijing’s Municipal Bureau of Finance (a group that sets the city’s economic strategy), invoked the need for “healthy” progress in the Blockchain industry during a fintech event, according to Sina Finance.

The official outlined in his speech popular use cases for Blockchain (including payments, credit and trading, a digital currency system, utilizing a distributed ledger), and called for Blockchain standardization as a means to make development easier. Furthermore, he also identified risk areas including P2P loans denominated in digital currency and pyramid schemes.

The comments come months after the People’s Bank of China, asserted itself more directly in the supervision of the domestic Bitcoin exchange space.

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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