China Leads the Development of Blockchain Projects
AP Photo/Eugene Hoshiko
Main page News, China, Blockchain

The Asian country is the world leader in number of blockchain projects, the Chinese publication has reported today.

According to the information provided by the blockchain data portal Blockdata, the country is currently developing 263 projects related to the blockchain technology, which represents about 25% of all the projects developed worldwide.

According to Li Qilei, CTO of blockchain platforms developer Qulian Technology, the financial sector is the most prominent client of this technology, since it uses it for the securitization of assets for banks and brokers.

We must not forget that the World Intellectual Property Organization reported last year that the vast majority of patent applications related to blockchain were filed from China. According to the data provided by Thomson Reuters, more than half of the 406 patents filed in 2017 came from China: the Asian giant registered 225 blockchain patents, followed by the U.S. (91) and Australia (13).

Even though the Asian country has not shown a very positive attitude towards cryptocurrencies, it is actually playing a very important role in the development of its underlying technology, blockchain. For example, in November last year, the Chinese authorities declared airdrops illegal, while in January this year the country announced a new regulation fo blockchain companies, which is actually positive for the industry, since it provides a legal framework for its development.

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