China’s blockchain industry continues to grow

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Blockchain technology. Photo: iStock

China’s rapidly expanding blockchain industry continues to attract entrepreneurs and capital, according to a white paper released by the Ministry of Industry and Information Technology, Economic Information Daily reported.

By the end of March 2018, the number of companies taking blockchain as the main business hit 456 in the country.

The blockchain industrial chain has been formed, from upstream hardware manufacturing, platform services, security services, to the downstream industrial technology application services, to investment and financing, media and human resources services that support the development of the industry.

The industry is currently at a rapid development stage and the year 2017 is the peak period. Due to the rapid popularization of blockchain concepts, the number of newly established firms has reached 178, and that of equity investment was close to 100 in the sector in 2017.

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