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Blockchain seems to be making news every day. It’s a revolutionary technology which finds application in myriads of fields. When we are talking about the latest development in this domain, you cannot ignore China. – PowerPoint PPT presentation

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Chinese investors to launch Blockchain funding
  • Blockchain seems to be making news every day.
    Its a revolutionary technology which finds
    application in myriads of fields. When we are
    talking about the latest development in this
    domain, you cannot ignore China. It is one nation
    that actively works on most recent technology and
    develops new software which can simplify the
    task. Despite China opposing cryptocurrency and
    banning Bitcoin and other digital currencies, it
    is actively working towards improving its
    blockchain and digital currency which is going to
    be proprietary of China.

  • The objective of this development is to keep
    China ahead of other nations. The country is
    actively supporting companies and startups which
    are using blockchain or working towards the
    development of the blockchain based platform.

Why there is so much hype about Blockchain?
  • Before getting to understand what is China doing
    in this domain, it is essential to know why there
    is so much hype about blockchain. The reason is
    simple, and its a technology which bridges the
    gaps created by the current technology.The
    blockchain is a digital ledger wherein all the
    information is spread across the entire network,
    and hence we name it as Distributed Ledger
    Technology or DLT. All the transaction or
    information exchange taking place on this
    platform is time-stamped. It makes all the
    information easily trackable and traceable

  • . It creates a transparent system which makes it
    easy for everyone to notice what is happening
    within the system. Moreover, all the information
    is encrypted cryptographically which makes
    hacking of data even more difficult.
  • Furthermore, the multifaceted features and use of
    blockchain again makes it an inevitable
    technology for the future. Any government or
    company if has command over such a robust
    technology which have a firm hold on the world
    economy and will change the course of business
    operations. This is the reason that nation like
    China is heavily investing in promoting the use
    of this technology.

  • We have seen the surge of many new companies that
    are proposing various uses of the blockchain. For
    example, today we have companies that are
    offering decentralised Content Driven Solutions,
    some are providing a decentralised platform for
    healthcare, companies are working today creation
    of a decentralised platform for recruitment,
    donation and much more. With such a vast area of
    applications, Blockchain holds a secure future.
    Undeniably many nations are investing in this
    technology to make it even better. Since
    blockchain is just a decade old technology, and
    hence, this technology is at a very nascent
    stage. It needs a lot of improvisation, at both
    technical and application aspect.

What is China doing in this field?
  • China is in the league of those nations who are
    actively working towards exploring new uses of
    the blockchain. We have already heard about
    Chinese companies coming up with a decentralized
    content delivery system which is going to be a
    big challenge to YouTube. But the story doesnt
    end here, and there is much more to it. A
    government-aided investment association is coming
    up with a funding center which aims at promoting
    blockchain development.

  • Global Blockchain Investment and Development
    Center (GBIDC), led by the Investment Association
    of China (IAC) will be working in this direction.
    IAC is a social organisation that assists major
    domestic investment projects and has attracted
    foreign capital.
  • On April 9, this year to promote Chinese
    blockchain startups, the Xiong A Global
    Blockchain Innovation Fund launched 1.6 billion
    (10 billion yuan) project. The Hangzhou
    Blockchain Industrial Park in China will work as
    an incubation center to promote and aid the
    blockchain startups. It is based in Hangzhou city
    which is one of the largest tech hubs in China
    and the abode of Alibaba.

  • Xu Xiaoping is one of the leading angel investors
    in China is also the founder of Zhen Fund which
    is a venture capital company. This company has
    invested in blockchain projects like Lino and
    Stream. Another such firm, Lo Xiaoli who is a
    prominent Bitcoin investor will be managing the
    funding part of this funding center.

What is the objective of this new funding center?
  • This new funding center will work under the IACs
    Foreign Investment Committee. It will look for
    collaboration with foreign companies for
    blockchain projects and will also aid the
    domestic initiatives. This funding center will
    work beyond providing financial assistance, and
    it will also provide consulting services to an
    institution which are looking forward to
    investing in blockchain initiatives.

  • IAC was established in 2001, and since then it is
    working in close association with Chinas
    National Development and Reform Commission which
    is a primary government agency. This agency looks
    at the economic and investment reforms in China.
  • Since IAC promotes the funding center GBIDC, it
    reflects the interest and inclination of China
    towards the promotion of blockchain related
  • Learn more about Blockchain

The Way Ahead-
  • It's good to see that blockchain has emerged as a
    promising technology which is going to reform the
    course of industries. If a nation is working
    towards the development of this technology, then
    we can decipher the fact that it holds the
    potential to influence the economy massively.
    Countries like China which have a significant
    impact on the world economy, it is concentrating
    on developing blockchain and has established a
    separate division which will only work towards
    development and promotion of blockchain, will
    soon reap the benefit of first-mover advantage.

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