China's CCID Creates 'Global Public Chain Assessment Index'

China’s CCID Creates ‘Global Public Chain Assessment Index’

The China Center for Information Industry Development (CCID), an arm of China’s Ministry of Industry and Information Technology, announced the creation of the Global Public Chain Assessment Index — a set of criteria for public blockchains for research and development purposes. It’s the latest sign that China’s powers-that-be are doing their homework on, and not simply rejecting, blockchain tech. 

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An Emphasis on Public Blockchains

With the permission of China’s Ministry of Industry and Information Technology, the CCID dove into distributed ledger technology and created a new index — the Global Public Chain Assessment Index — to help innovators in the country gain their bearings.

The monthly index, announced at a Beijing conference on public blockchains, was actualized through the coordination of officials, techies, and academics across several domestic organizations, including:

  • CCID’s Blockchain Research Institute
  • CCID Think Tank
  • The China Software Testing Center
The conference in action.

In the very least, the new tool shows that the Chinese government has blockchain on the brain and is making increasingly agreeable overtures toward the fledgling tech.

The Index’s Criteria

In order to create their index, the CCID team and their collaborators hashed out criteria for what precisely constituted “public chain” projects. These criteria were defined as:

  • “The project should have its own independent main chain”
  • “The node can be freely created”
  • “It should have a published block explorer where block information can easily be tracked”
  • “Open-source code”
  • “The project’s website page is available and the project’s team member can be contacted”

Per these parameters, the inaugural members of the index include well-known cryptocurrencies like Bitcoin (BTC), Bitcoin Cash (BCH), Cardano (ADA), Dash (DASH), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), Monero (XMR), Nano (NANO), Verge (XVG),  among others.

Notably, the Global Public Chain Assessment Index will be exclusively hosted by CCID’s website, ensuring it will be a go-to domestic Chinese resource for public blockchains research going forward.

What’s your take? Do you think China’s starting to increasingly embrace the blockchain officially? Let us know what you think in the comments below. 

Images via CCID, The Beijinger 

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