China’s Cyberspace Administration has revealed that there are 506 different projects initiated by several different entities in the country, which are either already using or doing extensive research into the use of blockchain technology. This is coming on the heels of the President’s call for the country to embrace blockchain technology and properly take advantage of all of its offerings in different sectors, as well as a newly passed law to regulate cryptography.
Since January this year, the agency had ruled that all projects that use or are looking to use blockchain technologies must be fully registered to enable proper monitoring. Two months after, in March, the Administration published a list of 197 projects that had been registered in its “first batch”. On October 18, another set of 309 projects were published, pulling the total up to 506 different projects.
There is no pointer to when a new list will be released but there’s always the chance that many more projects will be registered continuously, especially now that the President has endorsed the technology. However, the lists already published contain many of the country’s biggest institutions including large banks, tech corporations and other government backed projects as well. There are however quite a few popular blockchain projects that aren’t a part of the list, which means that they could be published in another.
The published projects show that some of the most common applications for blockchain technology among the registered endeavours include asset management, supply chain financing, trade finance and cross-border transactions as well.
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