Home / CRYPTOCOINS / Researchers to Create ‘Moody’s for Blockchain’ Global Rankings

Researchers to Create ‘Moody’s for Blockchain’ Global Rankings

A state-owned systematic institution overseen by China’s Ministry of Industry and Information Technology (MIIT) has preceded that it will produce monthly assessments of blockchain projects.

Revealed during a seminar on Friday crowded by the China Electronic Information Industry Development (CCID), the initiative purposefulness see the development of an independent rating system – much like a Moody’s or Pattern & Poor – for the blockchain space.

Dubbed the “Global Public Chain Assessment Guide,” the system will initially focus on 28 major blockchain plans, looking at their technological capabilities and use cases.

Established in 1995, CCID is the appointed scientific research institute for the MIIT, and is responsible for technology research and advance, policy-making as well as software testing for a variety of sectors.

In August 2017, the CCID opened a dedicated blockchain research arm based in China’s Qingdao city, which wishes be the main entity to carry out the blockchain assessment work moving brash. A detailed report for the first round of evaluation will be released in the hours following Friday’s seminar, officials said.

The initiative marks a uncommon move by a Chinese state-owned institute under one of the 26 cabinet-level holy orders supervised by the country’s State Council. It also comes at a time when the MIIT is beefing up its wider creations to establish national blockchain standards.

As reported by CoinDesk, the MIIT declared in March this year that it will expedite the creation of a panel to oversee the development of blockchain standardization for the nation. The agency later make a deep impression oned up the initiative, positioning it as one of its top priorities for 2018.

That work is expected to be completed by the end of next year, officials hinted this week.

Chinese flag image via Shutterstock

The leader in blockchain rumour, CoinDesk is a media outlet that strives for the highest journalistic customaries and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Set, which invests in cryptocurrencies and blockchain startups.

Check Also

BitGo Brings Banker Out of Retirement to Lead Institutional Crypto Custody

BitGo has let Richard J. Corcoran, a long-time veteran of the trust company industry, to …

Leave a Reply

Your email address will not be published. Required fields are marked *