October 8, in the Chinese province of Hainan has set up an official “blockchain zone” with its headquarters in the office of the Hainan Resort Software Community (RSC). The blockchain zone will be shared by multiple enterprises, including research Institute and innovation center.
The news of the creation of the zone, said the head of the Department of industry and information technology Wang Jing:
“Our project aims to bring together employees of different firms with the aim of developing applications based on blockchain technology for international trade and financial organizations”.
Research Institute is created with the support of Oxford University, and the innovation center will employ the staff of the Chinese people’s University. Despite the ban on trading digital currencies, the Chinese government actively promotes the development of blockchain technology to both public and commercial level.
In late September, Chinese trading company JD.com announced the establishment of its own Institute, which will deal with research in the field of blockchain and artificial intelligence. The financial sector is also not left behind: the representatives of the Bank Industrial and Commercial Bank of China, announced the company’s plans for the development of blockchain applications. This summer, the Chinese authorities have announced their intention to bring the country a world leader in blockchain technology.