Crypto Daily - China Takes on Blockchain

realkiki85 (58)in #blockchain • 6 years ago

Hello everybody, hope you’re having a good day!!

Blockchain is hot, new technology and since its invention 80 000 blockchain projects started around the world. Only last year 871 ICOs raised over $6 B. Sounds huge compared to 2016's 29 ICOs that raised $90 M. In last half of a year already 777 ICOs launched. Cloud Computing and Big Data Research Institute (CCBDRI) did some work and reported that only 8% of all blockchain projects is still maintained. The rest, or 92%, died lasted on average less than 15 months.

He Baohong, director of CCBDRI commented:

"(These projects) came out very quickly, but die quickly as well. In this circumstance, governments globally are accelerating their efforts to establish unified standards in order to help blockchain projects to achieve real-life applications."
“We have established verifiable blockchain programs in China, and nearly 200 private enterprises have expressed interests to join,” He adds. “(This) will help blockchain technology and industry to become more transparent and open.”

The executive power in China decided to accelerate the work on the development and implementation of blockchain. Local governments, financial authorities and relevant state-funded research institutions were asked to focus their efforts in that direction.

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