The Chinese Ministry of Industry and Information Technology (MIIT) has published draft guidelines aimed at improving standards for blockchain technology development by 2025. The MIIT is calling for public opinion on the matter until April 28, and the guidelines fall in line with China's five-year plan for technological development. The plan includes blockchain as a target for digital industry growth, and in February, China announced plans for a new national blockchain research center to connect universities, developers, and blockchain businesses to research core blockchain technologies. Despite the government's claim that China makes up 84% of all blockchain applications filed worldwide, only 19% of filed applications have received approval. Nonetheless, China currently has over 1,400 companies operating in its blockchain industry.
(By SAVANNAH FORTIS)
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