China.org.cn, English-language Chinese news daily reported on April 2 that apparently, China is emerging as the leader in the industry with the current status of blockchain projects on the move in the country.
China currently constitutes 25 percent of the global total of blockchain-related projects with its 263 projects- as stated by China.org.cn based on a report by Blockdata.
The CTO, of Qulian Technology, Li Qilei who is a blockchain platform developer allegedly said that probably, the principal user of blockchain technology is the financial sector, especially in the securitization of assets for brokers and banks.
It was reportedly said by Chris Church that,
“One of the significant reason behind the importance of Hong Kong Exchanges and Clearing (HKEX) to the company is it being an entryway to the mainland’s stock market.”
Church works at Digital Asset, a New York-based firm in the United States as the chief business development officer. He realized the magnitude of keeping China as a centre for doing business as the firm started to work with the HKEX.
It was reported by the World Intellectual Property Organization last year that the largest number of blockchain-related patent filings are coming from China.
A report on Data Collection by Thomson Reuters from the international patent organization stated that out of the total 406 in 2017, over half were from China- with the country filing 225 Blockchain patents, U.S. next in line with 91 and then Australia at 13.
Recently, an agreement was signed between the Shanghai Bank and the shipping giant China Shipbuilding Industry Corporation’s subsidiary China Shipbuilding Industry Company Limited in order to see the sights of how blockchain can be applied to financing upstream suppliers.
‘Implementation Plan for the Promotion of Transportation Infrastructure Development’ is a multi-year project launched last week in Jiangsu Province. An arrangement has been made in order to make blockchain one of the technologies to be used in refurbishing local transport infrastructure by the local authorities.