China’s First Blockchain Industry White Paper Released

The Ministry of Industry and Information Technology has officially released the White Paper on China’s Blockchain Industry Development in 2018 – making it the first official white paper on the blockchain industry within China.

Key Information

  • the number of blockchain focused companies within China has reached 456;
  • This figure is made up of upstream hardware manufacturing, platform services, security services, and downstream industrial technology application services.

Six Major Trends in Blockchain Development:

  1. Blockchain has reached the forefront of global technological development, opening up new tracks for international competition;
  2. The blockchain field has become a new hot spot for innovation and entrepreneurship, and technology integration will expand the application of new space;
  3. The blockchain will be widely deployed in the real economy in the next three years and become an important support for the construction of digital China;
  4. The blockchain creates a new platform economy and opens a new era of sharing economy;
  5. The blockchain accelerates the process of “trusted digitisation” and drives the financial “de-virtualisation” to serve the real economy;
  6. The blockchain supervision and standard system will be further improved, and the foundation of industrial development will continue to be consolidated.

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