In 2020, China’s blockchain industry has grown with an increasing number of blockchain companies. Data journalism platform, LongHash, revealed in a tweet that the blockchain industry in China has pumped significantly, overcoming the persisting global pandemic.
In the tweet, LongHash posted a chart, showing that China’s blockchain industry has added over 10,000 companies between January and July. The tweet said:
“COVID-19 hasn’t stopped China’s blockchain boom. 10,000+ new blockchain companies have been established in the first 7 months of 2020. Number of new companies on track to surpass those established in 2019.”
With the current 2020 figures, the chart showed that the current number of blockchain companies in China is more than the total number of companies recorded in 2017.
In addition, the figures revealed a total of 84,410 registered companies in the country, with 29,340 currently active. The highest number of blockchain startups is in Guangdong Province in Southeast China, followed by Yunnan Province in the southwest.
Despite the high number of registered blockchain companies, a large number of them registered with a small amount in capital, of 5,000 Yuan ($717) or less. However, a few registered with over 50,000 Yuan which is about $7,175.
Earlier in July, the Beijing government released its first blockchain application blueprint on government services. According to Beijing local news, 140 government service applications were already on the blockchain, as at the time the news was reported on July 15th.
Back in April, China launched a national blockchain service for worldwide access. The platform launched to help businesses create blockchain platforms a lot easier and cheaper.
Image Credits: Pixabay
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