On March 12, the Ministry of Industry and Information Technology (MIIT) announced on its official website that it is conducting a special study to establish a national blockchain and distributed accounting technology standardization technical committee. The goal is to accelerate the development of a comprehensive blockchain standard system and to effectively support the technical counterpart work for ISO/TC307. This move highlights the growing importance of blockchain in both domestic and international tech landscapes.
Earlier, on March 6, it was reported that the European Union (EU) planned to release specific drafts of blockchain technical standards and crowdfunding regulations, aiming to speed up the standardization process. Blockchain has increasingly become a key focus for governments and industries worldwide, with efforts to create more structured frameworks for its application.
In China, local policy documents have been frequently issued, signaling a strong push toward blockchain adoption. As of November 2017, nine provinces and municipalities—including Zhejiang, Jiangsu, Guizhou, Fujian, Guangdong, Shandong, Jiangxi, Inner Mongolia, and Chongqing—had released guidance on blockchain development. Several of these regions had also included blockchain in their "13th Five-Year Plan" strategies. For example, in Guangdong, companies achieving annual operating income of RMB 5 million, RMB 20 million, and RMB 100 million were eligible for grants of RMB 500,000, RMB 5 million, and RMB 10 million respectively. These policies, combined with increasing capital investment and technological progress, are accelerating the integration of blockchain across various sectors.
Blockchain technology offers a decentralized, trust-based system that ensures data integrity, immutability, and non-repudiation. By eliminating the need for intermediaries, it enhances efficiency, reduces costs, and expands collaboration possibilities. It is most likely to be applied first in digitized industries such as media and content creation, where transparency and secure transactions are crucial.
In the media sector, blockchain can revolutionize content distribution, copyright management, and monetization. It can help prevent piracy, streamline royalty payments, and improve overall operational efficiency. Applications in gaming, film, advertising, and digital assets are expected to bring significant changes to how media is produced, shared, and consumed.
Several major companies are already exploring blockchain opportunities, including China, Anne, Zhongqingbao, Yanqiao, Storm Group, Giant Network, Leo Shares, Tencent Holdings, Meitu, and others. Tech giants like Alibaba and NetEase are also investing heavily in this space.
However, investors should remain cautious due to potential risks, such as policy shifts or slower-than-expected technological development. While the future of blockchain looks promising, its success will depend on continued innovation, regulatory support, and real-world implementation.
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