The platform in the field of cryptocurrency data LongHash reported that the Chinese blockchain sphere has grown significantly even despite the pandemic. According to information, from the first to the seventh months of this year, more than 10,000 blockchain startups appeared
In addition, it is noted that the current number of Chinese companies associated with the blockchain sector is approaching the total figure of 2017. The firm believes that by the end of this year, their number may exceed the 2018 figure of 18,500, which will be a new record
According to the figures, there are 84,410 registered companies, with 29,340 operating. In terms of the number of blockchain companies, Guangdong Province is in the lead, followed by Yunnan Province.
However, most startups have only a small amount of capital. The minimum authorized capital was 5,000 yuan (about $717) and only a few firms indicated an authorized capital of more than 50,000 yuan ($7,175).
Local authorities are implementing blockchain in an attempt to provide better public services. In China, 224 blockchain-related projects submitted by well-known companies, such as JD, Walmart China and Baidu, have been approved.
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