People's Bank of China, Security Specifications for Financial Distributed Ledger Technology

中国人民银行金融分布式账本技术安全规范

March 26, 2020 | BY

Susan Mok

People's Bank of China issues first specifications on distributed ledger technology

Clp Reference: 3610/20.02.05 Promulgated: 2020-02-05 Effective: 2020-02-05
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Issued: February 5, 2020

Effective: as of date of issuance

Main contents: The appropriate consensus protocol selected based on business needs, including but not limited to proof of work, proof of stake, delegated proof of stake, Byzantine fault tolerance, etc., shall satisfy the prerequisites necessary for the secure operation of different consensus protocols, as well as the business incentive rules and the mechanism for secure operation and maintenance of technology.

For a consensus protocol to satisfy monitorability, the entire consensus history of each consensus process and system operation is required to be auditable and monitorable, and such history shall be unalterable.

Effective user identity management shall be realized, including identity registration, identity verification, account management, certificate lifecycle management, identity authentication, node identifier management, and identity updating and cancellation. The security of identity information shall be assured and monitoring audits of identity shall be carried out.

Private information shall be classified based on how sensitive it is and a strategy for protecting such information according to different levels of sensitivity shall be put in place, including verifiability of disclosed information, verifiability of encrypted information and verification of information at the transaction verification node.

In terms of information management, the user's true identity and relevant transaction information shall be supported in restored anonymous identifier so as to be available in transaction review.

clp reference: 3610/20.02.05 issued:2020-02-05 effective: 2020-02-05

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