China Forms ‘Blockchain Security Alliance’

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(Photo Credit: Tencent)

 

Two dozen institutions and government agencies will work together to create a single long-term mechanism for development.

According to a report from the state-run ChinaNews website, the new partnership is meant to “promote security” in the blockchain industry by establishing long-term mechanisms for the development of the technology within China, ostensibly without foreign involvement. It would also crack down on illegal behavior including ICO pyramid schemes and other forms of fraud. Continue reading