White paper released on China's blockchain technology

Updated 2018-05-21 15:54:05 Xinhua

A complete industrial chain for the blockchain sector has emerged in China with hundreds of companies adopting the technology, according to an official white paper released on Sunday.

By the end of March 2018, there were 456 blockchain technology companies in the country, forming a complete industrial chain, including hardware manufacturing, platform services, security services, industrial technology application services, investment and financing, media and human resources services, according to the white paper released by the Ministry of Industry and Information Technology.

"The industry is developing rapidly with more and more entrepreneurs and capital entering the market," the white paper noted.

The year 2017 marked the peak of industry development with 178 new companies being established following the rapid popularization and maturation of the technology, it said.

As a result, investors flocked into the market with nearly 100 equity stock investment deals in 2017, the most in recent years. In the first quarter of 2018, the number of equity investment deals reached 68.

The white paper pointed out that the industry is still in a nascent stage. More projects are under way as rapid industrial expansion continues, said Yu Jianing, an author of the white paper.

Yu expects industry development to reach a new peak in 2018.

Blockchain is a digital ledger system that uses sophisticated cryptographic techniques to create a permanent, unchangeable and transparent record of exchanges to trace each transaction.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58August 19 2019 10:02:59

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16August 19 2019 10:02:59

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18August 19 2019 10:02:59

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords