China has the most active digital investment and start-up ecosystem in the world, and has emerged as the world’s largest investor in fintech. The Chinese blockchain ecosystem is rapidly growing with a reported 456 blockchain companies at the end of March this year. Data from the World Intellectual Property Organization reveals China was the largest blockchain patent filer in the world in 2017, with China contributing 225 international blockchain patent applications, followed by the USA with 91 filings and Australia with 13.
China’s State Council has endorsed blockchain technology as part of an Information Technology Reformation Strategy in China’s 13th Five-year Economic Development Plan (2016-2020) with President Xi Jinping calling the technology a “breakthrough application” in May 2018. In fact throughout 2018, Chinese local government authorities have demonstrated a pro-blockchain attitude, funding multi-billion dollar initiatives and blockchain-based networks.
Important: This mission is focused on business-model innovation using blockchain technology. Marketing of cryptocurrencies or ICOs is NOT permitted given the ban in China.