More than 3000 Chinese companies used “blockchain” in their official name in 2018.

South China Morning Post notes that there is an explosive growth of companies having the “blockchain” word in their official names.

Since the beginning of 2018 the number increased by six times compared to 2017, from 555 to 3078 companies.

As per government data, there are more than 4000 companies registered in China that have a reference to “blockchain” in their names.

For comparison, there are just 335 such companies in UK and around 817 in USA.

Despite Chinese government are still skeptic to cryptocurrencies, they show great interest in development of blockchain-based solutions.

49% of all the distributed registry technological patents registered in 2017 were related to China.

In total,16600 Chinese companies announced the implementation of blockchain-based solutions to their workflow in 2017.

Governmental blockchain fund for $ 1.6 billion has been created in Hangzhou April this year and in May authorities began developing the national standards for blockchain technology.

Curious fact, by the way. End of 2017 shares of “Long Island Iced Tea Corp”, bottled ice tea and lemonade manufacturer, rose three-fold after the company rebranded to “Long Blockchain Corp.”

beepnow team

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