Share this article
Blockchain Standardization Tops Chinese IT Ministry's 2018 Agenda
China's Ministry of Information Technology and Industry is ramping up its focus on national blockchain standardization this year.
By Wolfie Zhao
Updated Sep 13, 2021, 7:44 a.m. Published Mar 23, 2018, 10:00 a.m.
Make us preferred on Google
China's Ministry of Information Technology and Industry has put blockchain standardization high up on its list of priorities for 2018.
According to an official announcement on Friday, the ministry's Information and Software bureau has outlined seven major areas of focus in its 2018 agenda, four of which will cover standardization initiatives that relate to the blockchain space.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Top of list, based on the announcement, is the formation of a dedicated committee that will seek to develop and roll out a standardized framework for blockchain use in the country.
While the new follows a previous report that the bureau already formally announced the formation of the committee, it hints that the agency is making a stronger drive at a high level to ensure the country stays ahead in blockchain development, which was widely praised at the country's annual political event in early March.
The new agenda also speaks to recent efforts taken by the ministry in a reported Australian tour with major Chinese internet giants in bid to learn from Australia's experience in leading blockchain standardization works.
As reported previously, Standards Australia was chosen in 2016 to spearhead a technical committee developing blockchain tech standards under the oversight of the International Organization of Standardization.
Other areas of focus in the latest agenda will aim at widening collaboration with global standardization organizations, as well as developing more specific frameworks for blockchain technology such as distributed ledger infrastructure and smart contracts.
In a separate note, also published Friday, the bureau said it hosted a seminar on Thursday with major organizations and companies from the industrial sector to discuss blockchain use cases and challenges in the area.
China flag image via Shutterstock
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Strategy surges 6% on MSCI decision not to exclude DATs from indexes
Shares of the Michael Saylor-led firm had been under pressure not just from weak bitcoin prices, but also the chance that the indexing giant might exclude DATs from its indexes.
What to know:
- Strategy (MSTR) shares rose 6% in after-hours trading after MSCI's decision on digital asset treasury companies.
- MSCI stated that distinguishing between investment companies and those holding digital assets requires further research.
- The current index treatment for companies with digital assets making up 50% or more of their total assets will remain unchanged.
Top Stories
