Japanese Government Unveils Evaluation Process for Blockchain Platforms

In a month where bitcoin gains prominence in Japan’s mainstream after the cryptocurrency saw recognition as a legal method of payment, the Japanese government has revealed a method to evaluate blockchain platforms that are widely expected to transform a number of industries.

Published [PDF] by the Ministry of Economy, Trade and Industry (METI), the evaluation process is developed by the Information Economy Division which operates under METI’s Commerce and Information Policy Bureau.

Development of the evaluation process took shape after five committee meetings in total held between November 2016 and March 2017 that included members such as Yuzo Kano, co-founder and chief executive of Japan’s largest bitcoin exchange, bitFlyer and Masanobu Takagi, blockchain architect at IBM Japan.

The Japanese ministry’s evaluation methodology includes 32 distinct pointers ‘which are especially closely related to the characteristics of blockchain technology’, the document reads. Evaluation items include scalability, portability, reliability, throughput, the number of nodes, performance efficiency and interoperability, among others. Blockchain platforms will also be classified by their public (open) or private (permissioned) nature and consortium-based blockchain

Read more ... source: CryptoCoinsNews

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