BTC Wires

An International Research Group On the Standardization of IoT and Blockchain to Be Led by The Chinese

An international research group on the standardization of IoT and blockchain will now be led by the Chinese according to a recent report.

The International Electrotechnical Commission (IEC) and the International Organization for Standardization (ISO) have joined forces and have adopted the proposal to create an international research group. This group will come into effect after a full month of discussions between the committee members.

The official newspaper of the Technology of China and the Ministry of Science, Science and Technology Daily wrote that creating this international research group was a testament to the “discourse power” of China in technology integration. It went on to write, “It is of great significance for China's related industries to lead global development and promote the integration of fiat and [the] digital economy.”

This international research group will be chaired by Dr. Shen Jie and will consist of experts from around the world from countries like United Kingdom, France, the United States of America and Germany. It will be responsible for boosting the integration of fiat-digital by way of offering countless industrial application scenarios in addition to
operating a working mechanism in order to promote the international standardization of the blockchain and IoT technologies.

It is no secret that the Chinese have recently been making significant efforts to adopt the blockchain technology in all its sectors further. Just a month ago, the Digital Currency Research Lab at PBoC (People’s Bank of China) was seen filing a patent in regards to a digital currency wallet. This would apparently enable users to track down all their
transaction histories. This month, PBoC also launched a system powered by blockchain in order to digitize paper checks.

Hence, the efforts of China to integrate the technology of IoT and blockchain into their administrative and working sectors is clearly visible. This standardization is bound to go a long way in making the world friendlier to these innovations and novel technologies.