China’s Province Launches First Officially Licensed “Blockchain Pilot Zone”

On Monday, China’s Hainan province became the first to launch “blockchain pilot zone”. This zone was jointly established by Resort Software Company (RSC).

China’s Hainan Province Launch Blockchain Pilot Zone

The zone includes a blockchain research institute and aims to attract blockchain talent around the world. This is to improve cross-border payments transfer/trade, finance etc. The institution also aims to connect with the top institutions and key players in the blockchain community.

Moreover, a blockchain institutional innovation center will be launched by RSC in ties with the Renmin University. Head of Hainan’s provincial department of industry and information technology, Wang Jing says, 

The pilot zone will commit to attract blockchain talent around the world. To explore the blockchain application in areas like cross-border trade, inclusive finance, credit rating.

China & Blockchain

In April 2018, China police shut down a Blockchain conference in Shanghai owing to “Security Risks”. In the same year, China officially bans all commercial activities and events relating to cryptocurrencies, even including mining. 

So this step taken by China blockchain to introduce a blockchain pilot zone is a bit of a surprise. However, they are considering its stringent bans in the past.

 You can have a look at our blockchain partners here.

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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