China Blockchain Ecosystem Alliance Forms Sweeping National Coalition Across Industries

At the 2017 China Blockchain Summit held last week, the formation of a new alliance to promote blockchain was announced. This coalition, the China Blockchain Ecosystem Alliance (CBEA), aligns a nationwide landscape of industry, tech innovators, educational institutions and financial entities along with government support.

With a goal of generating general standards for China's blockchain industry, CBEA will work to promote the adoption of new blockchain-based systems. It will also help form "a vertical media system within the blockchain industry to facilitate information exchange among professional organizations on a global scale." In addition, CBEA will operate under the Chinese Ministry of Industry and Information Technology (MIIT), a state entity.

With the Ministry's guidance, the CBEA is recognized by "an industry administrative authority" that will establish principles of "openness, innovation, cooperation and synergy" for China's developing blockchain space. As an alliance between government and private sector factions, the CBEA is well poised to act as a conduit for the free flow of ideas and shared resources which should "in turn speed up the adoption of blockchain technology by various industries."

Jing-Nan Li, Chairwoman of Unifive China, and Vice President of the CBEA council spoke at the summit, putting an emphasis on rapid analysis. "The promotion of any advanced technology at its early stage is to disseminate information fast," said Li.

Membership in the CBEA spans over 100 institutions including China Software Testing Center, China Software Industry Association, China Security Industry Association, China Electronic Certification Service Industry Alliance, Unifive, Beijing Tiande Science and Technology Co., Ltd., China Minsheng Bank, Beijing Qihoo Technology Co., Ltd., Beijing Shared-Bit Technology Co., Ltd., and Wanda Network Technology Group, to name a few.

At the summit marking the founding of the CBEA, a number of presentations were made by various experts in their fields. Among them was Dr. Quan Liu, vice chairman and secretary general of the CBEA, who introduced a list of CBEA members and presented "The Annual Report of the Blockchain Industry (2017): Preparation, Exploration, and Execution of a Modern Blockchain System, A Collection of Use Cases."

During his lecture he analyzed the state of the blockchain industry in China and pointed out critical tasks for the new alliance, including policy research, industry assessment, standard-setting, technical services, application promotion, personnel training, financial investment and media communication.

Also presenting was Professor Ning-Zhong Ren, director of Entrepreneurship and Venture Capital Research Center at Fudan University. He lectured on blockchain technology as applied to the fields of banking, insurance, supply chain provenance, and to the growing gig economy.

CBEA will be a non-profit organization, receiving support from various universities, research institutes and blockchain-based organizations as well as from China Electronics. The summit was cosponsored by the World Internet Industry Conference Organizing Committee, CCID (Qingdao) Blockchain Research Institute, Laoshan District, Qingdao City Government and China Electronics.

In closing, Li discussed CBEA's commitment to the blockchain sector:

"CBEA is committed to establishing an expert vertical media organization, a top commercial incubation research center, and a national authoritative blockchain technology institution to validate and strengthen global adoption of blockchain technology."