According to media reports, the government of the Association of investors of China is going to open the stock centre for the development of blockchain-industry in the country.

According to the Paper, the institution called the Global Center for Investment and Development of the block chain (GBIDC) will be administered by the Investment Association of China (IAC), a voluntary organization dedicated to the promotion of national investment projects with attraction of foreign capital.

New stock center will be managed by the Committee on foreign investment IAC. In the centre is cooperation with foreign blockchain projects and the allocation of funds for the implementation of the most developed internal initiatives. In addition, experts GBIDC will advise companies and institutions who are interested in how to invest in blockchain initiatives.

After the paper about the opening of the centre hit the Internet, the Vice-Chairman of the IAC Liu Ren confirmed its authenticity, explaining that the development of the program was due to the growing popularity of blockchain technology. In this regard, the organization has decided to begin funding appropriate projects and to participate in shaping industry standards. It is unknown whether the funds come from the state or from the private sector.

Opening GBIDC — another measure the Chinese government to develop the national blockchain industry. We will remind that this week the Ministry of industry and information technology of China made a program for standardization of the block chain.