Hangzhou Ranked 2nd for Blockchian Startups in China
2018 is a year for blockchain. Lots of Chinese public companies take advantage of this new technology and their stock prices surge even without much actual blockchain project landing. As blockchain becomes one of the most popular fintech in China today, people start to wonder which city is the best for blockchain technology? To seek the answer, 8btc News conducted a survey focus on the blockchain development in 4 advanced cities: Beijing, Shanghai, ShenZhen and Hangzhou in 3 dimensions including the policy support, the number of enterprises involved in and the investment amounts.
Dimension 1: Policy Support
Beijing has not issued any industrial policies specifically for blockchain yet. However, blockchian has been mentioned many times in some government documents. In August 2016, Beijing Municipal Bureau of Financial Work published their Performance Report of 2016, mentioned they have promoted the establishment of Zhongguancun Blockchain Alliance to build up a better financial environment for Beijing. Blockchain also has been defined as a internet financial technology in ‘The 13th 5-year-financial Development Planning of Beijing’ announced in December 2016. In September 2017, another government document pointed out that Beijing should develop more ‘green financial IT infrastructures’ based on blockchain.
Beijing has the most blockchain startups in China at present according to Wuzhen think tank. There are more than 40 blockchain related enterprises located in Beijing which up to 40% of the total amount of startups in this area in China. Such as famous miner provider Bitmain; Huobi and OKCoin (they used to be top cryptocurrencies exchanges in the world before the ban last year).
In April 2017, Internet Finance Association of Shanghai launched ‘Blockchain Technology Application self-regulating Rules for Internet Financial Institutions’ to promote blockchain technology in internet financial industry to serve the economic entity. This is also the first self-regulating rule for blockchain in internet financial industry in China.
In November 2016, Finance Office of Shenzhen launched ‘The 13th 5-Year-Financial Development Planning of Shenzhen’. The document emphasizes that Shenzhen would promote financial institutions to do some research on new technologies such as blockchain and cryptocurrency. Shenzhen also provide a prize to spur Fintech, ‘mainly for the excellent projects in blockchian, cryptocurrency and big data field’ and the rewards is up to 6 million yuan (about $953,516 USD).
Blockchian is highly valued by Hangzhou government. They co-sponsored the 2017 Global Blockchain Summit in April 2017and that was the highest standard of government-sponsored blockchain summit in 2017. The vice mayor said Hangzhou would provide suitable developing environment of blockchain in the summit.
Dimension 2: the number of blockchain startups in each city
According to 8btc, the number of blockchain startups in Beijing, Shanghai, Shenzhen and Hangzhou is 14, 8, 6 and 10.
Dimension 3: the investment amounts in each city
The table blow show the investment amounts of blockchain startups in Beijing, Shanghai, Shenzhen and Hangzhou from left to right measured in 10 thousand yuan. From the table we can see Beijing get the overwhelming advantages again.
So, Which one is the No.1 city in China in your point of view?