According to the analytical platform Longhash, in the first seven months of 2020, the number of blockchain companies registered in China has already exceeded 10 thousand.
Despite the pandemic, the number of registered from January to August firms have almost equally equal to the final figure of 2019, and by the end of the year it may well exceed the record level of 2018, for which 18.5 thousand companies were opened.
However, the Longhash team notes that the authorized capital of most organizations in this segment does not exceed 5 thousand yuan ($ 720) and only a minor share is registered with the Foundation more than 50 thousand yuan ($ 7,200).
As of the beginning of August, 84,410 blockchain companies are registered in China, but only a third of them are valid (29 340). Most startups are placed in Guangdong Province.
Such a lift is due to the reaction of the business to the National Blocked Technology Program and their integration into various spheres. Since the beginning of 2020, China’s central bank conducts real tests of digital yuan, which began to join large private companies.
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