LongHash Statistics Reveal Over 26000 Blockchain Companies are Running in China

News / 27.01.2020

Recent statistics provided by LongHash says that more than 26000 blockchain firms are operating in the country, and close to 80000 are legally registered companies. Guangdong province has the most blockchain companies, having 22 636 registered and operating firms in the province.

Recently, the government of Guangdong province adopted a blockchain-based financing system. Additionally, there are over 5300 and 5000 blockchain firms registered and operating in Yunnan and Guangxi provinces.

More Statistics on Crypto-Related Firms in China

In 2018, the number of blockchain platforms in China began to rise, as 19073 firms powered via blockchain got established, reveals LongHash. However, following the endorsement of the country’s president, the numbers got reduced to 14013.

In 2020, 700 blockchain-based companies commenced their operations. Additionally, the Center for Information and Industry Development (CID) ‘s blockchain research institute reported 33000 registered blockchain firms in December.

Fifty-seven percent of firms are blockchain-centric startups, 23% are internet firms with blockchain projects, and 12% are financial institutions with blockchain businesses. A pioneer leading company known as Baidu released its public beta blockchain network. Baidu also established an open-network blockchain, Xuperchain, to equip small and medium-sized businesses to release decentralized apps (DAPPS). On the other hand, Alipay pointed its plan to launch its consortium blockchain network come February 2020.

Sudarshan M is a long time crypto-enthusiast. Pulled in by bitcoin early on, it did not take long for Sudarshan to divert all of his academic attention from business studies to blockchain by doing his Masters and eventually pursuing his PhD in the subject.