According to a white paper released by the Ministry of Industry and Information Technology, China was home to 456 blockchain technology companies by the end of March 2018.
According to a white paper released by the Ministry of Industry and Information Technology, China was home to 456 blockchain technology companies by the end of March 2018. They have formed a complete industrial chain, including hardware manufacturing, platform service and security, investment and financing. The buzzing sector has been hailed as the new frontier in tech development after the steam engine, electricity and the internet. A growing number of local governments nationwide have begun to support the blockchain industry through preferential policies, special funds and innovation parks to achieve the beneficial effects of industrial clusters. Still, 2018 was hailed as the year when blockchain technology was widely applied and many enterprises have invested heavily in it, but they have so far failed to yield the expected profits. Experts cautioned that it is urgent to create national standards on blockchain that include basic regulations on operation, application and information security in order to sustain its healthy development.
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