(REjected )CHINESE GOV'T; THE NEED FOR STANDARDIZED DATA SECURITY ON BLOCKCHAIN

The chinese ministry of industry Information Technology in a report on 10 April argued that data has come to a stage were it is part of national resource and also a strategic weapon for ideas on social production. It is to be noted that data is the main source functioning of internet connectivity and that of information technologies and that is to say that without it the chinese economy might not boost because most of the chinese production is basically on technology and must be properly secured to avoid tamper, then the ministry of industry calls for feedback guidance for securing a rational and orderly flow of network data for the 21st century.

INDUSTRY KEY INTEREST

The document focuse on a strong information pataining to the securing of data standards for the 21st century and that of the future generation Tecnologies such as Blockchain, 5G network, cloud computing and others. Base on Blockchain the ministry of industry provide ways in securing and it include: consensus mechanism, smart contracts and components such as network communication and cryptography. The standardization of Blockchain sector should be inform of data privacy, secure digital asset storage and mostly on securing interactions and even on notifications. Blockchain need its main interest to protect the privacy, asset storage and that of digital connectivity. China has always shown interest on blockchain.

INDUSTRY VISSION AND ROLE

The ministry main function and role focuses on calling on the development of standards for the Blockchain industry. In the ministry direction platform,  the center for information and industry Development has also been published monthly digital currency rating report since Mid-2018. The China Blockchain Technoloy and industry Development Forum secretary general is Zhou Ping published 10 international Blockchain standard by spring 2018.