Shenzhen businesses issue some 6 million blockchain invoices in a year
While the China banned exchange cryptocurrency trading and initial coin offerings (ICOs) nearly two years ago, the local authorities have been keen on exploring blockchain technology. Furthermore, some of the country’s largest businesses have been at the forefront of blockchain development.
Earlier this year, it was reported that China was leading the world in terms of new blockchain projects. News outlet China.org.cn said in April that, as of November, last year, 263 projects had been underway in the country. This reportedly accounted for 25% of such projects globally.
In addition, at the end of March, the country’s cyberspace administration revealed that 197 companies had registered as blockchain service providers. The list included major tech giants Baidu, Alibaba and Tencent, which had launched proprietary blockchain-as-a-service (BaaS) platforms. Financial institutions, such as the China Zheshang Bank and Ping An Insurance Company, as well as online retail giant JD.com were also on the list.
Featured image: Pushish Images / Shutterstock.com
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The post Shenzhen businesses issue some 6 million blockchain invoices in a year appeared first on The Independent Republic.
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