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Over 35,000 blockchain companies are operating currently in mainland China but as per the recent reports, it can be anticipated that most of the companies don’t use blockchain technology. 

Because of the COVID-19 pandemic, most of the factories, offices and cities on the global platform have been shut down in the first half of 2020 and new 2,383 blockchain companies have started in China.  With this number, the overall companies have raised to 35,010 as of April1 and among that, over 20,000 companies are alone in Guangdong province as per Tianyancha which is a business data company. 

In mid-February, a data firm Long Hash said that about 70% of the total blockchain firms got registered in the Asian country during that time they had lost legal status or their licenses were revoked.  To deal with blockchain queries and troubles, you can always have conversation with the team members who are always there to listen to you. Call on Blockchain support number which is 24/7 functional and the team is there to assist you at every step. 

‘Blockchain’ companies in name only

 

Blockchain has not been a hot property in China especially when Chinese President Xi Jinping announced last year in October month that the nation will become a global blockchain power leader. Because of this , it is easier to understand that why big businesses are labelling themselves as ‘blockchain’ companies when in the reality they have a little which is related to the core Blockchain technology. 

This step shows that how it is confusing it is to set a legal blockchain company that meets up the Government standards. Also, many small-based Chinese blockchain companies and startups have made to shell corporations. This marketing strategy itself  help these blockchain companies to be acquired by larger ones, or by more legitimate firms. To deal with queries and technical glitches, you can always have conversation with the team members who are functional all the time. Contact the team via calling on Blockchain customer support phone number which is always functional and the team is ready to assist you at every step. Talk to the team whenever you are in trouble and gain results. 

 

During the Annual Meeting on Blockchain and Digital Assets in Beijing in December 2019, Bai Ling , Vice Director of Chinese Institute of Digital Asset accepted that the number of such companies are high in numbers . Over 96%  the blockchain companies in China are not using the core blockchain technology. Central Cyberspace Affairs Commission (CAC) of China Office reported that around 506 companies out of the 35,000 have a blockchain service filing number. The rise in Blockchain companies increasing and most of the sectors are now using blockchain technology to bring transparency. During this global outbreak because of COVID-19 pandemic, most of the Institutes are relying on blockchain to continue studies of students without any obstacles. Most of the International Institutions have accepted this mode to teach students so that they can continue their studies during this break down.