The Ministry of Industry and Information Technology issued “guidance on accelerating the promotion of blockchain technology applications and industrial development” document interpretation

With the deepening of the global digitalization process, the competition in the blockchain industry will become more intense. The introduction of the Guiding Opinions will help further solidify the foundation of blockchain development in China, accelerate the scale of technology application, build a blockchain industry ecosystem with a world advanced level and achieve leapfrog development.

The Ministry of Industry and Information Technology issued "guidance on accelerating the promotion of blockchain technology applications and industrial development" document interpretation

Recently, the Ministry of Industry and Information Technology and the Office of the Central Committee for Network Security and Information Technology jointly issued the “Guiding Opinions on Accelerating the Promotion of Blockchain Technology Applications and Industrial Development” (MIIT Lianxinfa [2021] No. 62) (hereinafter referred to as “Guiding Opinions”), and the relevant contents of the Guiding Opinions are interpreted as follows.

I. What is blockchain? Why should the “Guiding Opinions” be issued?

Blockchain is an important part of a new generation of information technology, a new type of database software integrated with distributed networks, cryptography, smart contracts and other technologies. In recent years, blockchain technology and industry have been developing rapidly around the world, and the application has been extended to many fields such as digital finance, Internet of Things, intelligent manufacturing, supply chain management and digital asset trading, showing a broad application prospect.

The Party Central Committee and the State Council attach great importance to the development of blockchain technology and industry.On October 24, 2019, General Secretary Xi Jinping stressed during the 18th collective study of the Central Political Bureau that “blockchain should be taken as an important breakthrough in the independent innovation of core technologies, clarify the main direction of attack, increase investment, focus on conquering a number of key core technologies, and accelerate the promotion of blockchain technology and industrial innovation. Industry innovation and development”. In the Outline of the 14th Five-Year Plan and 2035 Vision for National Economic and Social Development of the People’s Republic of China, blockchain is considered as one of the emerging digital industries, and it is proposed to develop blockchain service platforms and application solutions in the fields of financial technology, supply chain finance and government services with the focus on alliance chain, etc.

At present, China’s blockchain technology application and industry have already had a good development foundation, and a number of representative blockchain applications have emerged in such fields as anti-counterfeiting and traceability, supply chain management, judicial deposit, government data sharing and livelihood services. The initial role of blockchain in supporting China’s economic and social development has emerged. However, at the same time, China’s blockchain also faces problems such as the urgent need for breakthrough in core technology, immature integration application, industrial ecology to be improved, and obvious shortage of talent reserve.

The introduction of the “Guiding Opinions” will help further strengthen the foundation of China’s blockchain development, accelerate the scale of technology application, build a blockchain industry ecosystem with world advanced level, and achieve leapfrog development.

  Second, what is the overall positioning of the Guiding Opinions?

The general idea of the “Guiding Opinions” is to take Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era as the guide, base on the new development stage, implement the new development concept, build a new development pattern, and promote the construction of an advanced blockchain industry system. The overall positioning is based on three main considerations.

First, focus on the synergy with the overall development strategy of the country. To strengthen the synergy with national major development strategies such as manufacturing power, network power and digital China, to cultivate products and enterprises with international competitiveness as the goal, to deepen the integration of applications in the real economy and public services as the path, to take the initiative to plan, to seize the opportunity, to realize the advanced industrial base and modernization of the industrial chain, and to promote the overall leap in industrial competitiveness and leapfrog development.

Secondly, we should accurately grasp the opportunities and challenges of blockchain development. At present, the new round of scientific and technological revolution and industrial change is further deepened, and major countries around the world are accelerating the layout of blockchain technology development. China has a strong domestic market and rich application scenarios, and has a good foundation in the field of blockchain, especially the rapid development of the alliance chain, but still faces challenges such as industry applications to be deepened, the industrial foundation still needs to be consolidated, and ecological cultivation needs to be strengthened. Need to focus on solving the key problems that limit industrial development, and strive to promote China’s new industrial advantage in the field of blockchain.

Third, it highlights the promotion of high-quality economic and social development. Seize the opportunity of blockchain technology integration, function expansion and industry subdivision, select supply chain management, product traceability, data sharing and other integration application scenarios and public service areas such as government services, evidence deposition and forensics, smart cities, etc., encourage blockchain technology applications, create a number of typical model cases, form demonstration-driven effects and achieve large-scale development.

  Third, what initiatives have been proposed in the “Guiding Opinions” to deepen the application of the industry?

At present, there is still a shortage of application cases of blockchain for large-scale commercial promotion. On the one hand, blockchain technology is not yet mature and is still evolving rapidly; on the other hand, the characteristics of blockchain determine its applicability to specific scenarios, which need further in-depth integration with application scenarios. Therefore, there is an urgent need to combine the technical characteristics of blockchain, select areas suitable for application, drive the accelerated maturity of blockchain technology, promote the iterative upgrading of technical products, and form a source to promote industrial development.

The Guidance deploys two key tasks, one is to play the role of blockchain in optimizing business processes, reducing operational costs and building a credible system, focusing on supply chain management, product traceability, data sharing and other areas of the real economy, promoting the integration of blockchain applications, supporting the digital transformation of industries and high-quality industrial development; the second is to promote the application of blockchain technology in public services such as government services, forensics and smart cities, accelerating application innovation and supporting the transparency, equality and accuracy of public services.

  Fourth, about the solid blockchain industry foundation, the “Guiding Opinions” will start from which aspects?

The Guidance focuses on the standard system, technology platform, quality brand, network security, intellectual property rights and other aspects to collaboratively enhance the industry’s basic capabilities. These include promoting the construction of blockchain standardization organizations and establishing a blockchain standard system; strengthening technical research in key areas, building a blockchain underlying platform and creating a blockchain infrastructure; encouraging enterprises to strengthen quality management and build a blockchain product and service quality assurance system; strengthening the construction of blockchain infrastructure and service security protection capacity; and cultivating a number of high-value patents, trademarks and software copyrights.

  V. How is the layout of the “Guiding Opinions” on the cultivation of blockchain industry chain?

The “Guiding Opinions” proposes to cultivate a number of blockchain famous products, enterprises and parks, build open source ecology, insist on mending short boards and forging long boards simultaneously, and accelerate the building of a complete blockchain industry chain. Specific initiatives include: building industry-level alliance chains, creating a number of blockchain “famous products” with advanced technology and strong driving effect; cultivating a number of blockchain “famous enterprises” with international competitiveness, cultivating and incubating blockchain startups, and encouraging the creation of unicorn enterprises; combining the “regulatory sandbox” concept with the “blockchain industry” and the “blockchain industry”. “It also supports the construction of blockchain industry “famous parks” in parks with good infrastructure conditions.

  VI. What is the current situation of blockchain and other new generation information technology integration development? What is the deployment of the “Guiding Opinions”?

Blockchain needs to be integrated with other new-generation information technologies to achieve complementary advantages and functions in the real economy and other fields. At present, the integration of blockchain and industrial Internet, big data, cloud computing, artificial intelligence, etc. is still in the early stage of development, and the effect of integration application needs to be further activated.

The “Guiding Opinions” proposed the application of blockchain technology in the industrial Internet identification resolution, edge computing, collaborative manufacturing and other links to foster new models and new business models; construction of blockchain-based big data service platform to promote compliance and orderly data rights, sharing and circulation; the use of cloud computing to build blockchain application development, testing and verification and operation and maintenance environment; the development of artificial intelligence-based smart contracts and other new technologies to explore the use of artificial intelligence technology to enhance the efficiency of blockchain operations and value creation capabilities.

  Seven, “Guiding Opinions” what safeguards are proposed? How to promote the implementation of the next step?

The “Guiding Opinions” put forward six safeguards to actively promote the application of pilot, increase policy support, guide localities to accelerate exploration, build a public service system, strengthen industrial talent training, and deepen international exchange and cooperation, providing local authorities with the means and grasp.

The next step will mobilize the enthusiasm of all parties to accelerate the implementation of the “Guiding Opinions”.

(A) the organization of training. For local industry and information technology authorities, blockchain technology and service providers, user enterprises, etc., detailed interpretation and dissemination of the content of the “Guidance”, the relevant training courses and seminars.

(ii) Establish a working mechanism. Establish a collaborative working mechanism, and the competent departments of industry and information technology around the good docking, strengthen coordination and cooperation to ensure that key tasks in place.

(C) task decomposition and implementation. Formulate the formation of landing, executable key tasks division of labor table and time roadmap, clear responsibility for promoting. Strengthen communication with local authorities, timely summary of the formation of experience, the formation of demonstration drive.

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