In 2018, more than 3000 companies in China added the «blockchain» in its name

Compared to last year, with the beginning of 2018, the number of companies in China, in the official names with the word «blockchain» has increased six – fold, from 555 to 3078.

According to government data, only in China was more than 4 thousand companies, the title of which the word «blockchain». For comparison – in the USA the number of such companies is 817 and in the UK – 335.

According to analysts, this is reminiscent of the situation during the so-called Internet bubble of the 90-ies, when each company has sought to add to its official name and the «dot-com» or «dot-net».

In 2015 in China was founded around 400 new companies specializing in artificial intelligence (AI), which accounts for over 25% of world companies, is created in the same year. In 2016, this figure dropped to around 10%.

In the past 12 months was created with a total of 16 600 companies related to the blockchain. More than 3,800 of them have authorized capital of more than 10 million yuan (about $1.5).

This suggests that despite the skeptical attitude of the Chinese authorities to cryptocurrencies, they encourage the development of solutions based on their underlying technology – the blockchain.

So, according to the report China Internet Report, about 41% of the blockchain startups that received funding in China in the first quarter of last year, were related to the blockchain-companies. In 2017 China 225 filed patent applications related bloccano, which is more than half of the total number of applications in the world.

In 2018 in Hangzhou opened a government blockchain-a Fund of $1.6 billion, and in may, the authorities have developed national standards for this technology.

Logistics, government and health services are areas that may have the greatest potential in the application of the technology of the blockchain, according to a study of PwC and VeChain.

«The blockchain is a useful innovation that can be used not only in conjunction with crypto-currencies,» – said the head of the international Department of the Commission on regulation of banking and insurance in China Fan Wenzhong during the summit on financial technology in Shanghai.

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