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Suzhou to Build the First Blockchain Evaluation Center in China

The government of Suzhou, Jiangsu Province, together will Shanghai’s prestigious TongJi University have jointly announced they have reached cooperation to build China’s first Blockchain evaluation center during the 2016 China(Suzhou) Digital Economy and Innovation Conference held on 3rd November 2016.Guidedby National Development and Reform Commission(NDRC) and Jiangsu Provincial government, the meeting was held by China Research Center for Information, NDRC Jiangsu Branch and Suzhou Municipal government. Representatives from Alibba, Tencent, Huawei, Zhongxing, Baidu, and Didi all participated the meeting.

In an exclusive interview with 8btc, Professor Ma Xiaofeng, head of Financial Technology Institute of Tongji University said:

“Blockchain industry needs more than product R&D and commercial projects. It also need some non-profit service platform like an evaluation center. But as such a center requires enormous investment of money and technology and can hardly make profits in the short term, enterprises will not be willing to take to task. So Tongji University voluntarily shoulder the responsibility by collaborating seamlessly with Suzhou Government to develop the evaluation system. Blockchain projects can be evaluated before their official release.  “

The evaluation center to be built will see investment of tens of million yuan injected. Professor Ma said their vision is to help build a Silicon Valley in China’s fintech community.

Currently the center is exploring evaluation softwares based on methods used in fintech and on Blockchain’s features. It is projected that the blockchain evaluation system will be released in 2017.

Except the center, Suzhou government and Tongji university are also going to build a Blockchain industry base. Mr. Feng said to us:

 “The blockchain industry base will provide R&D service, evaluation, shared data and other services to lower the threshold for entering the blockchain industry. This will boost sound and fast development of the blockchain industry.”

Tongji University is at the forefront of fintech and blockchain research as an educational institution for its close cooperation of Chinese government while Suzhou, only 100km away from Shanghai, only becomes the second local government next to Nanjing (see our article) to publicly support blockchain industry.

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