{"id":404381,"date":"2022-02-10T08:37:20","date_gmt":"2022-02-10T05:37:20","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/un-approves-nft-standards-initiative-led-by-tencent\/"},"modified":"2022-02-10T08:37:20","modified_gmt":"2022-02-10T05:37:20","slug":"un-approves-nft-standards-initiative-led-by-tencent","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/un-approves-nft-standards-initiative-led-by-tencent\/","title":{"rendered":"# UN approves NFT standards initiative led by Tencent"},"content":{"rendered":"

“# UN app<\/a>roves NFT standards initiative led by Tencent <\/strong>”
\n<\/p>\n

Chinese entertainment conglomerate Tencent has been approved by the United Nations to lead a project exploring the creation of a standard technical and security framework for non-fungible tokens (NFTs) .<\/p>\n

The project, dubbed a \u201ctechnical framework for DLT-based digital collection services\u201d will be the world\u2019s first U.N.-approved standards initiative for NFTs, according<\/a> to state-owned local media<\/a>. <\/p>\n

The U.N. agency for information and communication technologies, The International Telecommunication Union (ITU) approved the project, which is expected to complete an initial draft by the end of 2022, according to a report<\/a> from the South China Morning Post. <\/p>\n

Currently, any recommendations advised by the ITU only become mandatory and enforceable when nations adopt them as law. <\/p>\n

\u201cThe international standard aims to specify the technical architecture, technical flows, functional requirements, and security requirements for blockchain-based digital collectibles,\u201d wrote Tencent in a statement released on Tuesday.<\/p>\n

\u201cIt could help drive a consensus and common understanding around the world on the formation of a technical framework for digital collection services.\u201d<\/p><\/blockquote>\n

Meanwhile, the Chinese government is in the process of developing its own state-backed Blockchain Services Network (BSN). <\/p>\n

This will help the Chinese Government to support the deployment of NFT projects unrelated to cryptocurrency, which it banned once again in Sep 2021. <\/p>\n

Tencent will collaborate with a number of other companies on the initiative, including Alibaba affiliate Ant Group, The Chinese Academy of Information and Communications Technology<\/a>, Beijing University of Posts and Telecommunications and Zhejiang Lab.<\/p>\n

Related: <\/em><\/strong>China aims to separate NFTs from crypto via new blockchain infrastructure<\/em><\/strong><\/p>\n

In China NFTs are often referred to as \u201cdigital collectibles\u201d in order to avoid criticism from the anti-crypto media and government. For this reason, Chinese NFT-creators tend to avoid public or decentralized blockchains such as Ethereum or Solana, opting to create their collectibles on permissioned blockchains. <\/p>\n

Despite the country\u2019s apprehension for crypto, it\u2019s clearly very keen on exploring potential use cases for blockchain technology. <\/p>\n

At the end of last month, China announced the commencement of a national plan to expedite blockchain development and innovation across key areas including manufacturing, energy, government data sharing and services, law enforcement, taxation, criminal trials, inspection and cross-border finance.<\/p>\n<\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“# UN approves NFT standards initiative led by Tencent ” Chinese entertainment conglomerate Tencent has been approved by the United Nations to lead a project exploring the creation of a standard technical and security framework for non-fungible tokens (NFTs) . The project, dubbed a \u201ctechnical framework for DLT-based digital collection services\u201d will be the world\u2019s…<\/p>\n","protected":false},"author":1,"featured_media":404382,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDIvNzI3MTE4MDAtOTUyOS00YTkxLWIyMjgtM2U4YmIxYmM1NDhjLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[95118,4973,70850],"class_list":["post-404381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-nft","tag-china","tag-united-nations"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/404381","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=404381"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/404381\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/404382"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=404381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=404381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=404381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}