Guidelines for the Construction of Blockchain and Distributed Accounting Technology Standard System (Version 2023)

It is reported that the Ministry of Industry and Information Technology has publicly solicited opinions on the “Guidelines for the Construction of Blockchain and Distributed Accounting Technology Standard System (Version 2023)” (draft for comments). It is proposed that by 2023, the top-level design of the standard system for blockchain and distributed accounting technology should be clarified, the overall rules for standard system construction and standard development should be studied, the relationship between standards should be clarified, and the development of basic common standards should be focused, basically meeting the standardization needs of blockchain and distributed accounting technology in China. By 2025, further improve the national standard system for blockchain and distributed accounting technology, continue to promote standards such as basic commonalities, key application demonstrations, and security guarantees of blockchain and distributed accounting technology, effectively guide the construction of China’s blockchain industry, and improve the level of technology and application services.

The Ministry of Industry and Information Technology publicly solicited opinions on the “Guidelines for the Construction of Blockchain and Distributed Accounting Technology Standard System (Version 2023)”

Introduction

Recently, the Ministry of Industry and Information Technology has declared the “Guidelines for the Construction of Blockchain and Distributed Accounting Technology Standard System (Version 2023)” draft for comments. This new proposal emphasizes clarifying the top-level design of the standard system for blockchain and distributed accounting technology by 2023. It also aims to study the overall rules of the standard system construction and standard development, clarify the relationship between standards, and focus on the development of basic common standards to meet the standardization requirements in China. By 2025, the national standard system for blockchain and distributed accounting technology will be further improved to promote blockchain industry standards, security guarantees, and application demonstrations.

Understanding Blockchain and Distributed Accounting Technology

To understand the guidelines for the construction of blockchain and distributed accounting technology standard system, it is essential to understand blockchain and distributed accounting technology. Blockchain is a decentralized and distributed digital ledger used for recording transactions. It operates using advanced cryptography to ensure that transaction records cannot be altered retroactively. Distributed accounting technology, on the other hand, allows multiple participants to record and transact using a shared ledger without the need for a central authority. It is an essential component of blockchain technology where transactions are validated by the wider community.

Need for Standardization

The rapid growth of blockchain and distributed accounting technology has highlighted the necessity of having standardized systems to govern its implementation. As new technologies emerge and evolve, there is a need for a uniform approach to ensure that processes and systems are portable, interoperable, secure, and reliable. The guidelines propose the need for standardization to enhance transparency, reduce risks, and improve the effectiveness of blockchain and distributed accounting technology.

Top-Level Design of the Standard System

The “Guidelines for the Construction of Blockchain and Distributed Accounting Technology Standard System” draft for comments set a target to clarify the top-level design of the standard system for blockchain and distributed accounting technology by 2023. This will provide a framework to guide the development of standard systems and ensure that standardized systems remain relevant and effective in the future.

Overall Rules for Standard System Construction and Standard Development

The guidelines also propose the need to study the overall rules for standard system construction and standard development. This will foster the development of trust, security, and interoperability in blockchain and distributed accounting technology businesses. Standard rules will govern how blockchain and distributed accounting technology systems are built, including how technologies are integrated, protocols are followed, and data is secured.

Clarifying Relationships Between Standards

Another essential element of blockchain and distributed accounting technology standardization is the clarity of the relationships between standards. This will facilitate the smooth integration of various blockchain and distributed accounting technology systems, reduce the risk of system failure, and promote interoperability.

Development of Basic Common Standards

The guidelines received intend to focus on the development of basic common standards that will address standardization needs, improve security, and ensure interoperability. Basic common standards will set out the best practices for implementing various blockchain and distributed accounting technology features, including data exchange protocols, data security, and data validation.

National Standard System for Blockchain and Distributed Accounting Technology (by 2025)

By 2025, the national standard system for blockchain and distributed accounting technology will be further enhanced. The focus will remain on the promotion of standards for basic commonalities, key application demonstrations, and security guarantees of blockchain and distributed accounting technology. This will guide the development of China’s blockchain industry, improve the level of technology and application services, and enhance China’s position as a global leader in blockchain and distributed accounting technology.

Conclusion

The “Guidelines for the Construction of Blockchain and Distributed Accounting Technology Standard System (Version 2023)” draft for comments is a much-needed development in the standardization of blockchain and distributed accounting technology. It highlights the need to develop a uniform approach that promotes the transparency, interoperability, and security in blockchain and distributed accounting technology businesses. The proposal stresses the importance of a top-level design for the standard system, the overall rules for standard system construction and development, clarifying relationships between standards, and the development of basic common standards.

FAQs:

Q1. Why is standardization necessary for blockchain and distributed accounting technology?
A1. Standardization is required to enhance transparency, reduce risks, and improve the effectiveness of blockchain and distributed accounting technology.
Q2. What is the aim of the proposal drafted by the Ministry of Industry and Information Technology?
A2. The proposal aims to clarify the top-level design of the standard system for blockchain and distributed accounting technology and improve the national standard system for blockchain and distributed accounting technology.
Q3. What benefits will the guidelines for the construction of blockchain and distributed accounting technology standard system provide?
A3. The guidelines will facilitate the smooth integration of various blockchain and distributed accounting technology systems, reduce the risk of system failure, and promote interoperability.