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China Jumps on Blockchain Hype Train - 80,000 Firms Registered

China Jumps on Blockchain Hype Train - 80,000 Firms Registered
  • The blockchain initiatives in China are extending the countries ambition of becoming one of the world’s biggest superpowers in the near future.
  • According to data, there are more than 26,000 blockchain firms operating in the country with nearly 80,000 legally registered in China.

The blockchain initiatives in China are extending the countries ambition of becoming one of the world’s biggest superpowers in the near future. As well as the statement releasing the news, the latest stats in the number of blockchain-driven companies in the nation were also released.

According to data from LongHash, there are more than 26,000 blockchain firms operating in the country with nearly 80,000 all companies which are legally registered in China.

One of the coastal provinces of south-east China, Guangdong has the highest number of blockchain firms. There is an impressive total of more than 22,000 companies that are registered and operating currently in the region. What is interesting about this is that the government of the province recently launched a blockchain-based financing platform.

On top of this, there is the Yunnan region with more than 5000 blockchain companies. The Guangxi region has over 5000 registered operating firms in the country too.

It wasn’t until 2018 when the figures on different platforms started to gain speed and traction as that’s just after the crypto industry took off throughout the world.

Nevertheless, the Chinese Google equivalent, Baidu became one of the first major tech platforms that launched its public beta blockchain network. The Chinese tech giant rolled out an open network of blockchain called ‘Xuperchain‘ in an attempt to enable small and medium-sized companies to issue their own decentralised apps.

Formally known as Alipay Ali, Alibaba’s Ant Financial had early review plans to show off its own list of blockchain networks in February this year which will be interesting to keep an eye on.

It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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