Survey Reveals Rising Number of Blockchain Developments in China
Login

Survey Reveals Rising Number of Blockchain Developments in China

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:
The China Electronic Information Development (CCID) made an announcement on the 27th of October stating that the number of blockchain corporations in China is over 700.

A survey carried out by the Committee of the Political Bureau of the Communist Party of China on the 24th of October has shown that amongst the aforesaid 700 blockchain corporations, 83 are research institutes and 34 are financial institutes. Also, about 500 investment events have occurred in the Chinese blockchain sector. The results also show that 12 blockchain agreements have been issued in the country over the first half of the year.

At the beginning of the year, the Cyberspace Administration of China installed some guiding rules, like anti-anonymity rules, for blockchain corporations conducting business in the country. The statement also mentioned some blockchain initiatives at the municipal level.

The CCID has said that the degree of innovation in the sector is at a healthy level. The organization divulged that the number of blockchain patents in China since the beginning of the year is 3,546, and the total patents filed in 2018 was over 2,450.

CCID’s Statement
According to the research arm of the CCID, China has published about 150 blockchain application cases so far this year. The applications are related to 28 areas including finance, medicine, e-government, intellectual property protection and a host of others. However, the organization has said that the applications are still not what it should be.

The CCID is a governing body in China that is vested with the duty of promoting the advancement of information sectors in the country. This body reports directly to the Ministry of Industry and Information Technology.

What China’s President Had to Say on Blockchain
The Chinese President, Xi Jinping has expressed his desire for the country to foster the spirit of adopting blockchain-related technologies to increase innovation and transformation in the country. In an interview with Politburo, Xi said that the Chinese must begin to see blockchain as a crucial factor for innovation of technologies, sharpen their directions, boost their investment, concentrate on fundamental technologies and improve blockchain development and innovation.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News