China now has more than 33,000 registered companies claiming to use blockchain technology in their businesses, according to the country’s Center for Information and Industry Development. The information was released at a recent blockchain conference hosted by a Chinese municipal government and several state-backed research institutes.
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Over 33,000 Blockchain-Related Companies Registered With Chinese Government
The number of registered companies claiming to use blockchain technology in their businesses has ballooned in China, heavily boosted by President Xi Jinping’s support of the technology. The blockchain research institute of the Center for Information and Industry Development (CCID), under the Ministry of Industry and Information Technology, recently released a report on the state of the country’s blockchain industry. According to the China Blockchain Enterprise Development Research Report:
As of December 2019, there were more than 33,000 registered blockchain companies.
According to an 8btc publication, the report reveals that 57% of these companies are blockchain-centric startups, 23% are internet companies with blockchain projects, and 12% are financial institutions with blockchain business. Among them, 28% are publicly traded companies. The publication added that more than half of these companies had a capital quota of more than 1 million yuan ($143,426) when they were established and registered.
These registered companies have been exploring various blockchain applications in fields such as finance, supply chain, traceability, hardware, charity, medical health, cultural entertainment, social management, copyright protection, education and the sharing economy. Most of them are focused in four areas: finance, supply chain, traceability, and hardware.
The study also notes that the overall financing and investments into newly registered blockchain
