Changsha Economic and Technological Development Zone and the National Computer Network Emergency Response Technical Team/Coordination Center of China sign an agreement on Oct 24 to establish China's first blockchain security testing center in Changsha. [Photo by Jiang Lian/icswb.com]

China's first blockchain safety technology testing center was set up in Changsha Economic and Technological Development Zone in Changsha county to standardize the development of the blockchain industry.

The establishment of the testing center was signed by Changsha Economic and Technological Development Zone and the National Computer Network Emergency Response Technical Team/Coordination Center of China (known as CNCERT or CNCERT/CC).

Wu Zhen, secretary-general of National Committee of experts on internet financial security technology, said that current security problems in the blockchain industry encompass economic, social and technical concerns. They can only be solved by building a security system based on physical layers, data layers, application layers, encryption algorithms and risk control.

With the popularization of blockchain technology, new requirements are being put forward to ensure the security of data during storage, transmission and use.

"Whether the blockchain technology matures and becomes safe enough is very important in promoting it and related applications," Wu explained.

The testing center will integrate enterprises with blockchain security testing capabilities into technical working groups to allocate testing work. It will help enterprises with blockchain testing abilities achieve fair and transparent project income, as well as protecting the rights and interests of the inspected enterprises and their related trade secrets.

A leader of Changsha Economic and Technological Development Zone said that after completion, the testing center will drive the annual output of blockchain software detection services and generate 500 million yuan ($72 million) in five years.