In China, blockchain technology is spreading not only in companies but also in secondary education institutions.
China Academy for Information and Communications Technology (CAICT) revealed that the country is home to a great number of blockchain firms.
According to the document “2022 Blockchain Whitepaper,” in particular, there are more than 1,400 blockchain-related companies in the country. It is worth noting that China and the United States account for 52% of all global blockchain enterprises.
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On top of that, it appears that blockchain technology is applied not only by businesses in China but also by post-secondary institutions. Based on the CAICT document, around 48 educational institutions across China have created “blockchain engineering” degrees or certificates.
Nevertheless, in the document, CAICT provided recommendations regarding blockchain technologies, which hold high application potential.
The list starts with “settlement chains,” which allow transparent telecom fee publications for companies like China Unicom and China Mobile. Another application method proposed by CAICT includes using the Zhejiang Cold Chains lets customers know the source of their food by simply scanning the productsclosing’ QR codes.
The third use case is connected with the Trusple cross-border payments platform, which allows buyers and sellers to obtain due diligence information about each other. Lastly, CAICT promoted blockchain monitoring platforms that authorise regulators to identify order irregularities between various exchanges.
In its document, CAICT revealed that major Chinese firms like Huawei, Tencent, Ant Financial and Alibaba have created “blockchain alliances” for their operations.
The Chinese government allows its citizens to own cryptocurrencies and non-fungible tokens (NFT). It is worth noting that, on December 28th, the news broke that China is looking to launch its first state-based NFT marketplace, dubbed China Digital Asset Trading Platform.