Shanghai city plans to release China’s first regional blockchain security standards
The Shanghai municipal government plans to release China’s first regional standards for the secure usage of blockchain technology, placing an especially strong emphasis on the protection of personal data, according to China Banking News.
On 9 September the Shanghai Information Security Testing Evaluation and Certification Centre (SHTEC) released the draft version of its “General Standards for Blockchain Security Technology” for the solicitation opinions from the public.
According to SHTEC the new Standards are for the purpose of “strengthening guidance and standardisation of blockchain technology,” as well as “driving the safe and orderly development of blockchain technology applications.”
The Standards place heavy emphasis on the protection of personal data, outlining work requirements in three areas in particular:
- Usage of mainstream signature methods to protect information confidentiality, including but not limited to blind signatures, ring signatures and group signatures;
- The provision of data transformation technology, including methods such as data encryption and the desensitisation of sensitive data, in order to transform sensitive data;
- Appropriate usage of sidechain technology to achieve protection of personal information, and placement of sensitive operational data of users on sidechains, as opposed to storage on open master chains.
The move from SHTEC arrives following the release of the “Blockchain Technology Financial Application Assessment Regulations” by the Chinese central bank on 10 July, as well as the requirement that Chinese financial institutions regularly conduct external security assessments and undertake filing of blockchain technology applications.
Read more:
- China’s Shanghai City Launches Initiative To Explore Blockchain Application
- People’s Bank Of China (PBoC) In Shanghai: Blockchain – Not Bitcoin