Chinese Regulator Approves the Second Batch of 309 Blockchain Firms
China’s internet regulator, the Cyberspace Administration of China (CAC), has released the second list – 309 companies long – of registered blockchain service providers, according to its October 18 notice.
The registered 309 blockchain service providers cover many fields such as cultural tourism, education, e-commerce, justice, medical treatment and supply chain finance. Initiatives by tech giants and listed enterprises such as Huawei’s HiCloud blockchain service and Alibaba’s AliCloud blockchain service appear on the list.
In addition to technology companies, traditional industry giants like China Southern Airlines has also registered its China Southern Airlines Chain. Besides, many financial institutions such as the Industrial and Commercial Bank of China, Ping An Bank, China UnionPay have also registered for their blockchain service. Many blockchain-dedicated startups working on public chain, crypto wallets as well as mining pools have been included in this batch.
It is noteworthy that a number of government departments are also on the list. The State Administration of Foreign Exchange has registered for its cross-border business blockchain service platform, and the Hangzhou Internet Notary Office applied for the record of its blockchain-based e-evidence repository; As well as Shenzhen Welfare Lottery Distribution Center’s lottery verification system, Shenzhen Tax Bureau of the State Administration of Taxation’s blockchain e-invoice, etc.
The Regulation for Managing Blockchain Information Services was first announced in October last year by the CAC and came into effect on February 15, involving censorship and bans anonymous users, which immediately ignited a heated debate among blockchain and cryptocurrency enthusiasts upon its introduction.
According to the regulation, blockchain service providers in China are required to verify real-name registration for users via a national ID or telephone number, barred from using blockchain technology to “produce, duplicate, publish, or disseminate” any content that is deemed to pose a threat to national security and shall store user data to allow inspection by authorities. It unveiled the first batch of 197 registered blockchain service providers this April.