🔴China Necessitates Development of Data Security Standards 🔻China’s Ministry of Industry and Information Technology issued a document on April 10, which necessitates development of data security in blockchain. The aforementioned document fundamentally emphasizes the development of security standards in next-generation technologies such as blockchain, 5G, cloud computing and artificial intelligence. Data privacy, secure digital asset storage and protecting network interactions are among the most important standardizations for the blockchain. The document also underscores research on smart contracts and blockchain security in financial transactions. #security_standads #China #blockchain #standardization