On May 27, 2021, Ministry of Industry and Information Technology and Office of the Central Cyberspace Affairs Commission released the Guidelines on Accelerating the Technical Application and Industrial Development on Block Chain Technology (hereinafter referred to as “the Guidelines”). The main contents and interpretation of the Guidelines are summarized as follows:
I. Main contents of the Guidelines:
1. Developing Objective:
By 2025, the block chain industry becomes top level in the world, and has begun to take shape.
By 2030, the development of block chain industry would have persist improvement, and the size of the industry expand to the next level.
2. Critical missions:
1) Empower substantial economy
2) Improve public service
3) Consolidate industrial base
4) Build modern industrial chain
5) Promote integrated development
3. Guarantee measures
1) Promote application pilot
2) Increase policy support
3) Provide guidance to enhance local exploration
4) Establish public service system
5) Strengthen the training of industrial talents
6) Deepen international communication and cooperation.
II. Interpretation on the Guidelines
1. Why compose the Guidelines?
In recent year, the technology and industry of block chain is on a rapid global development, and its application has extended into various fields such as digital finance, IoT, intelligent manufacturing, supply chain management and digital asset trading etc. The industry has demonstrated a wide application prospect.
The supporting effect of block chain to the social economic development has initially shown in China. Yet meanwhile, some issues, like the urgency of developing core technology, the immature application fusion, the incomplete industrial ecology and the obvious shortage of talent, have emerged.
In the Fourteenth Five-Year Plan, together with the strengthening development of global digitalization, the competition in the block chain industry has turned more and more fiercely. The publication of the Guidelines would further consolidate the development base in China’s block chain sector, improve the application scale of technical application, and build up a world leading ecological system of block chain industry so that finally a leaping development is realized.
2. What’s overall positioning of the Guidelines?
1) Pay attention to the coordination with national overall developing strategy.
2) Precisely seize the developing opportunity and face the challenge for block chain development.
3) Emphasize its effect on stimulating the high-quality development of economic society.
3. What measures have the Guidelines taken in deepening industrial application?
The Guidelines set up 2 critical missions: the first mission is to exert the advantage of block chain in multiple fields such as optimize business process, decrease operational cost, and create credible system etc., focus on substantial economies like supply chain management, product tracing, digital sharing etc.; promote the fusion application of block chain, and support digital transition and high-quality industrial development. The second is to drive the block chain application in public service sector like government service, deposit and withdraw evidence, smart city. Accelerate application innovation, and support a more transparent, equal and accurate public service.
4. In order to strengthen industrial base of block chain, what factors have the Guidelines focused on?
The guidelines focus on various factors to improve basic industrial capability. It covers factors like standardization system, technological platform, quality brand, cybersecurity and intelligent property etc. The concrete work would involve: drive the establishment of standardization organization on block chain, build up block chain standardization system; improve technical breakthrough on key technologies, create underlying platform of block chain, establish block chain infrastructure; encourage enterprise to improve quality management, create a product and service quality assurance system for block chain; strengthen the establishment of block chain infrastructure and service security capability; cultivate a batch of high value copyright of patent, trademark and software
5. What’s the current status of the fusion development of block chain and other new generation information technologies? What arrangements have the Guidelines made?
Nowadays, the fusion of block chain with Industrial Internet, big data, cloud computing and AI still stays in early stage, and it awaits for further activation.
The Guidelines state out that the technical application of block chain should be implemented in fields like label analysis, edge computing and coordination manufacturing to foster new model and type of operation; construct big data service platform based on block chain to stimulate orderly right confirmation, sharing and circulation of data compliance; take advantage of cloud computing to form an environment for the application developing, verification and validation of block chain; develop new technologies like smart contracts based on AI, and explore a way to enhance operation efficiency and value creating capability of block chain through artificial intelligence.
6. The next steps of the Guidelines.
1) Organize training for the Guidelines.
2) Set up working organism.
Break down the key objectives and implement
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