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China – leaders in the World of Blockchain Projects

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According to reports by China.org.cn (Chinese-English language news daily) dated April 2, China is leading the world in terms of the number of blockchain projects ongoing in the land. China.org.cn while citing a report by Blockdata stated that at present, there are about 263 projects related to the blockchain underway in Chian which is close to 25 percent of the global blockchain projects.

According to reports, the CTO at Qulian Technology (blockchain platform developer), Li Qilei said that the biggest user of blockchain technology is the financial sector, specifically in asset securitization for banks and brokers. Also, the chief business development officer – Digital Asset in New York, Chris Church noted the relevance of doing business in and around China since the company began working with the Hong Kong Exchanges and Clearing (HKEX). Further, Church stated that “One of the reasons that HKEX is so important to us is because it is a gateway to the mainland’s stock market.”

In the year 2018, it was reported by the World Intellectual Property Organisation that majority of patent filing related to blockchain technology came from China. Also, data curated by Thomson Reuters showed that a total of 406 patents were filed across the globe in the year 2017 out of which half of them were from China. The land registered a total of 225 patents linked to blockchain technology, followed by the U.S. (91) and Australia (13).

Very recently, CSICL (China Shipbuilding Industry Company Limited), a subsidiary of CSIL (China Shipbuilding Industry Corporation) along with the Shanghai Bank signed an agreement according to which the firm will look into various methods as to how blockchain can be applied in order to finance its upstream suppliers.

In the past week, a new project was disclosed in Jiangsu Province called the “Implementation Plan for the Promotion of Transportation Infrastructure Development.” According to their plan, the local authorities will use blockchain technology in order to modernize the local transport infrastructure.

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