Hangzhou has the first blockchain business park

7/3/2018 8:29:45 AM

In Hangzhou, the new Blockchain Industrial Park is the first dedicated blockchain business center in the world. To date, ten blockchain enterprises already signed agreements to settle in the industrial park, ready to harvest the fruits of a completely new industry.

The blockchain industry is based on the seemingly endless possibilities of an ingenious invention. Blockchain technology has – for example – created the backbone of a new type of internet. Blockchain was originally devised for the digital currency, Bitcoin. In the meantime, blockchains can make other types of digital value. Tech start-up companies are continuously finding other potential uses for the technology.

In its new Blockchain Industrial Park, Hangzhou is attempting to bring companies together that are involved in digital asset transaction services, blockchain cloud computing services, blockchain information platforms and quantitative management platforms for digital assets.

With the goal of becoming a blockchain center, local authorities have formed a blockchain innovation fund of 10 billion yuan (US$1.56 billion). The money is used to accelerate the development of blockchain industry in Hangzhou.

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