Technology development of a distributed registry in China has recently been given more attention. In the spring, with the participation of the government in Hangzhou has opened a Fund to support the blockchain initiatives, and recently was launched another similar investment entity — this time in the capital of Jiangsu province — Nanjing.
The government of Nanjing has created a Fund in partnership with the Alliance Blockchain Zhongguancun Industry Alliance based in Beijing. The Alliance consists blockchain companies and government research institutes.
According to local media, the capital of the Fund will be $1.48 billion, and as his early beneficiary will perform UDAP Foundation involved in the management of blockchain assets.
The announcement of the opening of the investment Fund was made during the first summit Industrial Public Chain Summit (IPCS), held in Nanjing. The event was attended by several senior officials of China, as well as guests from South Korea. So at the summit On KAP soo (Oh Kap-soo), Chairman of the Korean research Institute of Global Finance Society, spoke about the need for the two countries to unite their efforts for the development of innovative technologies.
Another speaker of the meeting was the van Shaohua (Wang Xiaohui), Deputy Chairman of the research center of the Internet industry at the Tsinghua University. He said that the key to success in tokenization of the economy will be global cooperation, integration of different industries, as well as autonomy.
It is worth noting that the people’s Bank of China (PBoC) has already begun to take the first steps in the direction licenzirovanie economy. Over the years it has filed more than 40 patent applications related to the digital currency, including the creation of the purse for storage of digital assets and the blockchain system designed for tokenization of paper checks.
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