China

Recent statistics provided by LongHash says that more than 26000 blockchain firms are operating in the country, and close to 80000 are legally registered companies. Guangdong province has the most blockchain companies, having 22 636 registered and operating firms in the province. Recently, the government of Guangdong province adopted a blockchain-based financing system. Additionally, there are over 5300 and 5000 blockchain firms registered and operating in Yunnan and Guangxi provinces. More Statistics on Crypto-Related Firms in China In 2018, the…

Recently, Rhino Data published a report concerning blockchain investment and financing in 2019. The report was released in collaboration with Xinhua Finance. The report includes a list of startups related to cryptocurrencies in China getting funding. As per the report, in 2019, the number of investment and financing deals recorded was 245, and there was an aggregate of 3.5 billion USD in investments by some. The value is approximately half of what got recorded in 2018. Of all the investments,…

The National Intellectual Property Administration (NIPA) of China continues to clarify the specified guidelines following those that apply for the blockchain patent concerning the implementation of the plans made by the 1st of February.  The NIPA announcement days ago based the review of guidelines and its patent applications that were to be reflected in the latest technologies such as dealing with big data, artificial intelligence, business methods and rules, and even blockchain.  Based on the revisions made, the guidelines' inclusion followed on a device…

An exchange-traded fund (ETF) recently sent an application to the China Securities Regulatory Commission. Penghua fund filed for the ETF proposal on the 24th of December, intending to monitor publicly listed stock performance from blockchain business. The fund’s approval would make it the pioneer ETF targeted on blockchain in China. The news was highlighted on the 26th of December by SSJ, a Chinese government journal. Many Blockchain Industries Get Listed on Blockchain 50 Index The Shenzhen Stock Exchange also announced…

According to the Chinese government, there may be changes in the way it treats cryptos like Bitcoin as it is looking forward to reforming its forex markets. On December 24, a report by Reuters cited a senior government official and explained that a fresh research initiative will involve expanding the blockchain cross-border financing pilot platform of China. The platform was introduced in March 2019 and it is at the moment functioning as a pilot scheme in nineteen provinces. Lu Lei spoke about the…

Recent reports have laid out that China's smart courts use various innovative technologies that include blockchain and artificial intelligence (AI) in deciding numerous legal cases. A report by The Xinhua news agency on December 5 stated that blockchain and smart internet courts powered by AI were used to settle over 3.1 million Chinese litigation activities between March and October 2019. With non-human, virtual judges powered by AI, appearing in court will be a thing of the past as time goes…

Bitcoin is a revolutionary concept that will forever change how we understand and deal with finances. Since its release in 2009, the best-known cryptocurrency has taken the world by storm. It delivers an alternative to fiat money, quicker bank transfers, and countless possibilities of development for blockchain-based digital assets. Many see Bitcoin as the next best thing since the invention of the internet. Like the world wide web, its influence might surpass the financial system's borders and shape geopolitical issues.…