China Is A World Leader In The Number Of Blockchain Projects: Report

A new report makes China the ultimate leader in the number of blockchain projects that are currently underway in the country. According to the Chinese but English-language news daily portal China.org,cn and its reports on April 2, there are 263 blockchain-related projects in China which account for 25% of the global total – something that made the Bitcoin news today.

While citing a report by Blockdata, China.org.cn also quotes Li Qilei which is the CTO at blockchain platform developer at Qulian Technology who said that the financial sector is the biggest user of blockchain technology – especially when it comes to asset securitisation for banks and brokers.

Chris Church, who is the chief business development officer for the New York based firm Digital Asset in the United States, noted the importance of doing business in and near China, pointing to the firm and its work with the Hong Kong Exchanges and Clearing (HKEX). As Church stated, “one of the reasons that HKEX is so important to us is because it is a gateway to the mainland’s stock market.”

Last year, the World Intellectual Property Organization reported that most of the blockchain-related patent filings came from China. On top of that, other data collected by Thomson Reuters from the patent organization showed that over half of the patents in 2017 were from China: the country had 225 blockchain patents followed by the US (91) and the Australia (13).

More recently, the China Shipbuilding Industry Company Limited which is a subsidiary of the shipping giant China Shipbuilding Industry Corporation – signed an agreement with the Shanghai Bank under which it will explore ways through which blockchain can be applied to financing its upstream suppliers.

Last week, another multi-year project named “Implementation Plan for the Promotion of Transportation Infrastructure Development” was launched in Jiangsu Province. According to the plan,  blockchain will be one of the technologies that local authorities will use in overhauling the transport infrastructure.