Over 1,400 Chinese firms operating in blockchain industry, national whitepaper shows

On Dec 29, the state-owned China Academy for Information and Communications Technology, oregon CAICT, published a papers titled "2022 Blockchain Whitepaper." According to the paper, much than 1,400 blockchain firms are presently based successful Mainland China. Together with the U.S., the 2 countries correspond a 52% marketplace stock successful presumption of planetary blockchain enterprises. 

The CAICT besides disclosed that astir 48 post-secondary institutions crossed China person introduced "blockchain engineering" related degrees and certifications. In the report, the instauration elaborate 4 types of blockchain technologies with precocious exertion potential.

First, "settlement chains" would let transparent work of telecom fees for firms specified arsenic China Mobile and China Unicom. Second, the Zhejiang Cold Chains would alteration consumers to verify the root of their nutrient by scanning the products' QR codes. Third, the Trusple cross-border payments level tin assistance buyers and sellers get owed diligence info connected their counterparties.

Finally, blockchain monitoring platforms tin assistance fiscal regulators spot bid irregularities betwixt antithetic exchanges. Major Chinese tech giants specified arsenic Tencent, Ant Financial, Huawei, and Alibaba, person each created "blockchain alliances" successful the past years for their respective operations.

China presently allows ownership of cryptocurrencies and nonfungible tokens, oregon NFTs, with their legality protected successful courts of law. However, the state has banned the issuance of archetypal coin offerings on with integer exchanges and cryptocurrency mining. 

Despite setbacks, the Government of China has included blockchain developments connected its authoritative nationalist agenda. In October, the State Council of the People's Republic of China, stated that it would prioritize "cloud computing, blockchain, and AI" arsenic means of improving information absorption and authorities services. On Dec 28, Chinese officials announced that a nationalist speech for the trading of NFTs and integer plus copyrights would motorboat connected Jan 1, 2023.