The blockchain and crypto data platform, LongHash, uncovered tweeted on August 8 that China’s blockchain sector has grown significantly despite this year’s pandemic. He explained that they settled down 10,000+ blockchain companies between January and July.
The report shows that too The current number of blockchain companies in China is well on the way to surpassing the 2017 total. LongHash said The year 2020 could also top the total of 18,500 as of 2018 and hit a new all-time high.
source: LongHash tweet
The numbers show that There are 84,410 registered companies and from them 29,340 are in operation. Guangdong Province in southeast China has the highest number of blockchain starts and the province Yunnan in the southwest ranks second.
However, Most blockchain companies were registered with little capital. It shows that the The maximum share capital was 5,000 yuan, approximately USD 717. Meanwhile, Few of them were registered for more than 50,000 yuan, about $ 7,175.
As Cointelegraph previously reported, The Chinese government is implementing blockchain technology to provide more efficient government services. The Chinese central bank also raised $ 4.7 million to develop its blockchain trading platform over the next three years. The country 224 blockchain projects already approved from large companies, including JD, Walmart, China and Baidu.