China Recognizes Over 500 Enterprise Blockchain Projects

Asia Blockchain Review
November 4, 2019

Over 500 enterprise blockchain projects developed by major companies in China have been registered with the country’s Cyberspace Administration, according to Coindesk, highlighting Beijing’s support for blockchain.

A total of 14 blockchain projects have also been registered by six banks in China. Most of the projects use the technology for trade finance, asset management, supply chain financing and cross-border payments.

Financial Sector Blockchain Projects

Among the Chinese banks that have filed for blockchain projects are Industrial and Commercial Bank of China (ICBC), the world’s largest bank by assets, China Construction Bank (CCB) and the Bank of China, which owns a patented blockchain payment system. Other major banks with blockchain projects include China Construction Bank and Ping An Bank.

Apart from banks, Union Pay filed two blockchain services for tracking cross-border capital transfers and digitizing certificates.

Tech Giants Are Ahead Of The Game

Baidu, Alibaba, and Tencent are some of the largest tech conglomerates that have filed blockchain-based services. Blockchain projects by Baidu include its patented Xuper Chain, a game called Letsdog, Baidu Blockchain Engine, and Token. Alibaba has a total of 90 projects.

Tencent registered its Tencent Blockchain, Tencent Cloud TBaaS Blockchain and TrustSQL, a blockchain platform for digital asset management and authentication. The internet giant also partnered with Intel to develop blockchain-based Internet of Things (IoT) apps.

Blockchain Projects By Government

In China’s government sector, blockchain projects can be found in areas such as communications, law and land development.

The Blockchain Services Network (BSN), a nationwide infrastructure project, is considered one of the largest blockchain projects led by the Chinese government. BSN claims to be better than cloud services developed by tech giants such as Alibaba, Huawei and Tencent.

Other projects led by the government include Blockchain Electronic Invoice and Cross-Border Transactions Platform.

Source: www.coindesk.com


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

Related Article
Tencent Granted Blockchain Bank License in Hong Kong
Major Chinese tech company Tencent has recently been granted a blockchain bank license from the Hong...

November 19, 2019

US Taps Mavennet to Track Canadian Oil and Gas with Blockchain
Canada’s own Mavennet has been selected by the US Department of Homeland Security to develop and imp...

November 19, 2019

Tradewind Developing Blockchain-based Platform for Precious Metal Trade
Fintech company Tradewind Markets has announced that it will launch a blockchain app for the preciou...

November 19, 2019

Marseille Port Successfully Ends Trial for Blockchain System
Marseille Fos Port Authority has successfully carried out a blockchain test to develop solutions tha...

November 18, 2019

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us