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Chinese Government Seeks Feedback on Data Security Standards

By Luke Flowers – Cryptocurrency Broker

A recent document was released by the Chinese Ministry of Industry and Information Technology focusing on data, calling for feedback on draft guidance for the security of data within blockchain technology. The report details data and information as a ‘national basic strategic resource’. This means the standards of data security in the industry of blockchain and the other technology sectors could pose a major concern for data keepers. For social production, data is also a pioneering component.

The success of telecom and internet sectors needs correct data maintenance, security, and big data to accelerate and develop well. The ministry is requesting this feedback as soon as possible in order to tackle the rising complications along with risks because it is important for China’s digital economy.

New generation technologies like blockchain, cloud computing, artificial intelligence and FG are all becoming increasingly popular, however security standards to not apply across all. The new document details 3 key dimensions for security development within blockchain, including application services, system designs (including smart contracts & consensus mechanisms) and basic components like cryptography & network communication. All three of these are important factors because one of the key advantages of buying & selling crypto is doing so with secure privacy. This standardization would focus on data privacy, secure digital asset storage and protecting network interactions.

China’s Ministry of Industry and Information and Technology has been playing a vital role in bringing together development standards for blockchain technology. The effort started back in 2016 locally, however, 10 international blockchain standards were published in spring 2018.

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