OK Group, the operator of the popular cryptocurrency trading platform OKCoin, has just announced it plans to invest around $140M in China to boost the adoption of blockchain technology, The Block has reported.
The company reportedly plans to establish an Asia-Pacific Innovation Center in the Chinese province of Hainan to foster the adoption of the crypto's underlying technology in the Asian giant.
OK Group founder Star Xu has said the company has made this decision as this Chinese province has a solid base for the industry.
This new innovation center will include an international blockchain entrepreneurship base and a blockchain data research institution. According to the company, it intends to promote the adoption of this technology through the creation of new blockchain apps focused on education, employment and health, among other fields.
This news is related to the recent statements by Chinese President Xi Jinping, who in October said he wants the country to become a leader in the adoption of this tech.
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