The Chinese government is planning to establish its own rating system. The aim of the system is to rate the blockchain projects. These include those who support well-known cryptocurrencies. The first report contained the analysis of 30 top blockchains on the crypto market.
These include Bitcoin, Ethereum, ripple, Bitcoin Cash, Neo, Dash, Ethereum Classic, Cardano, Monero, Komodo, ARK, Decred, Bitstock, Cloud Storage, Verge, Stimco, Nano, Ioota, Quantum chain, Starcoin, Stratis, Coin, Super Cash, Hcash.
Chinese government favored the crypto boom in the beginning. It became apparent it was difficult to control and the market was too volatile. The government changed tracks and imposed restrictions. This led to an exodus of miners and lot of crypto market from China. But the story isn’t over yet. Seems like the Chinese government is keeping close eyes on the decentralized blockchains.
China Center for Information Industry Development (CCID) released this report. CCID is the official branch of Chinese Ministry of Industry and Information Technology in Beijing. They are the research institute which covers the digital information and economics. Chinese Ministry under the aegis of CCID has established China Ecological Blockchain Alliance (CEBA) alongside Blockchain Research Institute (BRI). These think-tanks provide research to policymakers in Beijing regarding Blockchains. Hence this development is very unique.
China constitutes a big chunk of global cryptocurrency market. Their interest lies in blockchain application, not cryptocurrencies. The regime’s centralized nature is creating this puzzle. Crypto enthusiasts must not rejoice yet. This project seems cautious and in that direction.
CCID announced this as its first monthly global Public Chain Assessment Index. The announcement was made at a conference in Beijing. CCID have identified certain characteristics of the blockchains they were analyzing.
- It’s own Independent Blockchain.
- Free access to Public nodes.
- Must have its own browser.
- Open Source Code.
- Primary members can be easily contacted through Websites.