China is ready to form blockchain standardization committee this year

China hopes to have its national blockchain standardization committee installed before the end of this year, according to an official at the country's Ministry of Industry and Information Technology.

In a speech at the Guiyang Big Data Expo on Saturday, Li Ying, head of the Information and Software Department of IT ministry, said the structure of the committee will be based on TC 307, a blockchain commission of the International Organization for Standardization. (ISO).

The plan is to have a comprehensive framework for full blockchain standards by the end of 2018, she added - confirming a plan announced by Chinese government officials earlier this month.

Li said:

"We have worked closely with ISO and the International Telecommunication Union (ITU). Soon, we will have our national technical committee for blockchain standardization ready within this year. "

The official's comments came shortly after China's IT ministry unveiled its agenda to standardize the development of the blockchain - the goal is, as Li explained, "to accelerate the rollout of blockchain in areas that urgently need nascent technology."

As reported, while the country is a participating member of the TC 307 committee of ISO, which focuses on standard frameworks for use of blockchain in authentication and smart contracts, the ministry said in March 2018 that it is seeking to build the country's own initiative in around standardization.

A research laboratory directly overseen by the IT ministry has gone on to conduct monthly assessments of key public blockchains in an effort to create a standard classification system.