Laoshan District People's Government of Qingdao and China Electronics and Information Industry Development Research Institute have announced the establishment of China Blockchain Ecosystem Alliance (CBEA).

The announcement was made at the 2017 China Blockchain Summit and CBEA founding conference held on November 8, 2017. The event was co-sponsored by the World Internet Industry Conference Organizing Committee, CCID (Qingdao) Blockchain Research Institute, Laoshan District, Qingdao City Government and China Electronics and Information Industry Development Institute

“CBEA is a non-profit social organization jointly sponsored by China Electronics and Information Industry Development Research Institute, as well as universities, research institutes, and other blockchain related enterprises,” the official release stated. “It is the first non-profit blockchain technology related organization in China to obtain recognition by an industry administrative authority.”

CBEA members include 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., Wanda Network Technology Group, and more than 100 additional organizations.

"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. As a co-sponsor of the alliance, Unifive will dedicate more high-quality resources to attract talents and ideas to bring productivity,” said Jing-Nan Li, Chairwoman of Unifive China, and Vice President of the CBEA council.

According to the official release, CBEA will focus on formulating standards for the development of China's blockchain industry, promoting technological innovation, and encouraging early adoption of the technology in the real business world. It will also sponsor the formation of a vertical media system within the blockchain industry to facilitate information exchange among professional organizations on a global scale.

“Under the guidance of the Ministry of Industry and Information Technology, CBEA will uphold the principle of "openness, innovation, cooperation and synergy" to establish the Chinese blockchain development and application ecosystem,” the release added.