Chinese government to publish independent analysis of cryptocurrencies monthly

The Chinese government announced that at the Beijing conference held on May 11, monthly independent analyzes of crypto money and Blockchain projects will be published.

According to the statement, the China Information Industry Development Center of the Ministry of Industry and Information Technology of China ( CCID); It will analyze 28 cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Monero, NEO, QTUM, Ripple and Zcash.

The press release stated that ranking information for all 28 projects will be released in the next few days.

First-class local experts and academics will contribute to the project, which the creators call the “Global Public Chain Assessment Index.” Evaluating the development level of projects in order to gain a deep understanding of the usefulness, innovativeness of the project, as well as the innovation trend of Blockchain technology.

CCID states that the purpose of this index is that there is a complete lack of independent assessment for crypto assets and Blockchain projects.

This initiative is surprising, as cryptocurrency trading is banned in China.

Concerning the government’s position, CCID explains: may:

“This independent analysis of cryptocurrencies and global Blockchain technology demonstrates the Chinese Government’s confidence in the technology, thus serving as a guide for the government, entrepreneurship and research institute.”

Earlier this week, Beijing also stated that it will strengthen Blockchain standards nationwide by using a special committee by the end of 2019.


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