China is leading the world in the number of blockchain projects in the country.
China.org.cn states that there are 263 blockchain-related projects in China, accounting for 25 percent of the global total.
The CTO at blockchain platform developer Qulian Technology, Li Qilei, purportedly said that the financial sector is the biggest user of blockchain technology, particularly in securing asset for banks and brokers.
Chris Church, chief business development officer for New York-based firm Digital Asset in the United States, reportedly noted the importance of doing business in and near China, as the firm began work with the Hong Kong Exchanges and Clearing (HKEX). Church purportedly stated, “One of the reasons that HKEX is so important to us is because it is a gateway to the mainland’s stock market.”
China Shipbuilding Industry Company Limited, a subsidiary of shipping giant China Shipbuilding Industry Corporation, recently signed an agreement with Shanghai Bank, under which it will explore how it can apply blockchain to financing its upstream suppliers.