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Blockchain Security Testing Center To Be Opened In China

20:33 26/10/2018

Chinese authorities plan to open the first security testing center for blockchain networks, China News reports.

 

The authorities of the Chinese city Changsha (the capital of Hunan Province), which has the status of Economic Development Zone, and the National Computer Network Emergency Response Technical Team Coordination Center (CNCERT) signed an agreement to open a center to track the bugs and the most vulnerable places of decentralized systems.

 

According to the contract, CNCERT will monitor data traffic, check the code for inconsistencies in blockchain systems in real time.

 

Wu Zheng, Secretary General of the National Committee of Experts on the Internet Financial Security Technology, expressed the opinion that despite the level of technology development and the reliability of smart contracts, all factors affecting the massive introduction of blockchain should be taken into account.

 

The development team has created a platform that can automatically monitor the correctness of the fulfillment of the conditions of smart contracts, thereby improving their reliability.

 

Changsha authorities suggest that the blockchain protection testing center will achieve annual revenues of 500 million yuan ($71 million) in the first five years after launch.

 

As previously reported, it is planned to open a lab for the development of technologies at the blockchain research institute in China.

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