According to Foresight News, China's Ministry of Industry and Information Technology (MIIT) has announced the completion of drafting 11 recommended national standards related to the electronics industry.
Crucially, these draft standards include guidelines for the application of blockchain and Distributed Ledger Technology (DLT) in logistics tracking services.
The Ministry is now actively seeking public feedback on these standards to gather opinions and suggestions from various sectors of society before finalizing them.
Key Takeaways:
* Standardization: The standard aims to ensure that the use of blockchain in logistics and supply chain management is standardized and interoperable, enhancing data accuracy, transparency, and security.
* Government Focus: This initiative underscores the Chinese government's view of blockchain as a core infrastructure technology for improving national logistics efficiency, not just a financial tool.
* Public Consultation: The MIIT is now soliciting public feedback, giving industries, academics, and the public a chance to comment on the drafts before the final standards are issued.
* Logistics Use Case: Using blockchain for logistics tracking creates an immutable record of a product's journey from origin to destination, reducing fraud and building trust in the supply chain.