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China Going Crazy With Blockchain, Big Brands Joining in While Projects See A Record

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China’s “Blockchain not Bitcoin” narrative has been known for a long time and going strong as ever. In October, President Xi Jinping himself emphasized the country to “take the leading position” in blockchain technology and “seize the opportunity.”

This promotion by the President of the country himself certainly elicited expected results. As per the local report, in November, out of the total 86 new blockchain projects, 57 were from China. This has been an increase of 110% from the previous month.

Out of these 57, 28 projects are initiated by the government departments across China focused on electronic certificates, tax, and justice. The projects in the financial sectors focused on cross-border financial services, supply chain finance, and credit data sharing.

Out of these 57, 28 projects are initiated by the government departments across China focused on electronic certificates, tax, and justice. The projects in the financial sectors focused on cross-border financial services, supply chain finance, and credit data sharing.

China was followed by the US and Japan with nine and four projects respectively. Australia, Singapore, and Thailand followed cosplay behind with each having two projects.

“China has gone more crazy for blockchain than the west was in early 2018,” is what popular crypto analyst, Crypto Loomdart has to say about China’s development.
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