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China led the world in blockchain application in the past month

In May 2019, 84 blockchain application projects were revealed worldwide, down 8.7% from March. China is still the country with the largest number of blockchain application projects. Of the 84 applications disclosed in May, 37 were in China, accounting for about 44%. Only six applications were in U.S, down by 53.8% from last month. The gap between China and the United States in the application of blockchain has further widened, and China has become the leader in promoting the application of blockchain.

From the perspective of industry distribution, the application over the world in May were mainly concentrated on three fields: finance, traceability and government affairs. In May 2019, the three fields ,finance, traceability and government affairs made up of 23%, 20% and 18% applications respectively.

In field of finance, in addition to cross-border transaction, in May, there were also new blockchain application pilot projects, such as blockchain-based electronic deposit platform, housing mortgage and loan platform, resettlement fund management.

Blockchain electronic deposit platform launched by Minsheng Bank, it has an access to the judicial organ, synchronizing business data and digital fingerprints in real time, so that the judicial organ can extract business data online as evidence in the event of legal disputes. The Management Committee of Xiongan New District has also officially launched the blockchain-based platform of fund management for resettlement, which realizes the whole process of on-chain management of original files and fund penetrating allocation.

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Traceability is the second largest area of blockchain application, and it is also the fastest growing area of blockchain application in May. In May, 17 traceability projects were disclosed globally, with an increase of 54.5% over the last month.In May, the application of the blockchain-based  traceability has extended from wine, tea, coffee, cheese and other fields, to large grain commodities such as precious clocks and watches, cocoon silk, sorghum, soybeans and corn.

In the field of application for government affairs, China is still the most active promoter. In May, China government and relevant departments made rapid progress in promoting the application of blockchain-based government. The “identity chain” management system launched by the Qingzhen Municipal Government of Guizhou Province record the information of villagers in the list of honesty, which is linked with discount loans and other benefits. The ” Blockchain-based Business Service Platform”  in Huangpu District of Guangzhou City is exploring the online processing for business services of Hong Kong and Macao enterprises.And the courts in Hangzhou, Shanghai and Shuzhou jointly construct Yangtze River Delta Judicial Chain on the basis of blockchain-based judicial platform.

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A number of blockchain applications also extended to the fields of copyright, traveling and energy. Alibaba, the Internet giant uses blockchain technology for copyright registration and certification. Shenzhen Transportation Bureau, Alipay, and Hunan Expressway have adopted blockchain technology to solve the problems of electronic invoice issuing, cross city bus scanning and payment, and high-speed toll payment.

 

COMMENTS(3)

  • Benchmarkoptions
    3 months ago Benchmarkoptions

    Chinese Crypto Exchanges Accounted for 60% of Tether Trading in 2019 – Chinese cryptocurrency exchanges have accounted for more than 60% of total Tether trading globally so far in 2019, according to a report from a cryptocurrency research. #bmotips #Tetherhttps://news.8btc.com/chinese-crypto-exchanges-accounted-for-60-of-tether-trading-in-2019 …

  • Web Surfer
    3 months ago Web Surfer

    China led the world in #blockchain application in May 2019

    84 blockchain application projects were revealed worldwide, down 8.7% from March. #China is still the country with the largest number of blockchain application projects. (1/2)https://news.8btc.com/china-led-the-world-in-blockchain-application-in-the-past-month …

  • Web Surfer
    3 months ago Web Surfer

    Of the 84 applications disclosed in May, 37 were in China, accounting for about 44%. Only 6 applications were in U.S, down by 53.8% from last month. The applications were mainly concentrated on three fields: #finance(23%), traceability(20%) and government affairs(18%). (2/2)

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