China’s Office of the Central Cyberspace Affairs Commission (OCCAC) has announced its third round of blockchain projects to receive approval from the country's regulators.
224 distributed ledger technology (DLT) ventures have been added to the commission’s registry, which includes major tech firms Alibaba, Baidu and China Mobile.
The news appears to have been broken by Twitter user ‘AliceolaCrypto’, who posted a screenshot of the OCCAC’s announcement on April 27.She wrote that of the 224 approved projects, approximately 40% hail from Beijing.
Roughly one-quarter of projects will target the fintech sector.
The list of approved projects includes ventures from several major corporations, including Walmart China — whose food safety tracking initiative has been green-lit, and firms involved with the roll-out of China’s state-backed blockchain network such as China Mobile, China Merchants Bank, and Alibaba.
Some of the entities have been permitted to proceed with multiple DLT projects, with five blockchain ventures from China Merchants Bank receiving approval.
On April 25, China announced the commercial launch of its long-awaited Blockchain Service Network (BSN).
The central government claims that more than 2,000 developers built on top of the BSN during the six months prior to its beta release in October 2019, including applications designed to aid public welfare distribution, commodity tracing, and digital invoicing.
On April 20, the Sichuan city of Ya’an issued a statement in support of local hydropower being directed to cryptocurrency mining operations, announcing plans to build a “hydropower consumption demonstration zone.”
224 distributed ledger technology (DLT) ventures have been added to the commission’s registry, which includes major tech firms Alibaba, Baidu and China Mobile.
The news appears to have been broken by Twitter user ‘AliceolaCrypto’, who posted a screenshot of the OCCAC’s announcement on April 27.She wrote that of the 224 approved projects, approximately 40% hail from Beijing.
Roughly one-quarter of projects will target the fintech sector.
The list of approved projects includes ventures from several major corporations, including Walmart China — whose food safety tracking initiative has been green-lit, and firms involved with the roll-out of China’s state-backed blockchain network such as China Mobile, China Merchants Bank, and Alibaba.
Some of the entities have been permitted to proceed with multiple DLT projects, with five blockchain ventures from China Merchants Bank receiving approval.
China launches Blockchain Service Network
On April 25, China announced the commercial launch of its long-awaited Blockchain Service Network (BSN).
The central government claims that more than 2,000 developers built on top of the BSN during the six months prior to its beta release in October 2019, including applications designed to aid public welfare distribution, commodity tracing, and digital invoicing.
On April 20, the Sichuan city of Ya’an issued a statement in support of local hydropower being directed to cryptocurrency mining operations, announcing plans to build a “hydropower consumption demonstration zone.”
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Francisco Gimeno - BC Analyst The BST was approved just some days ago and there are already 224 licensed Blockchain Ventures! Clearly, the Chinese government and the Chinese industry (some say it is the same thing!) don't want to lose the initiative and the big blockchain based experiment is starting. With a potential market of billions in Asia, Chinese continental dominance seems to be strong. If the rest of the world goes too slow we will talk about global dominance.