CHINESE INVESTORS TO LAUNCH BLOCKCHAIN FUNDING CENTER

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Chinese investors to launch Blockchain funding
center

• Blockchain seems to be making news every day.
  Its a revolutionary technology which finds
  application in myriads of fields. When we are
  talking about the latest development in this
  domain, you cannot ignore China. It is one nation
  that actively works on most recent technology and
  develops new software which can simplify the
  task. Despite China opposing cryptocurrency and
  banning Bitcoin and other digital currencies, it
  is actively working towards improving its
  blockchain and digital currency which is going to
  be proprietary of China.

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• The objective of this development is to keep
  China ahead of other nations. The country is
  actively supporting companies and startups which
  are using blockchain or working towards the
  development of the blockchain based platform.

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Why there is so much hype about Blockchain?

• Before getting to understand what is China doing
  in this domain, it is essential to know why there
  is so much hype about blockchain. The reason is
  simple, and its a technology which bridges the
  gaps created by the current technology.The
  blockchain is a digital ledger wherein all the
  information is spread across the entire network,
  and hence we name it as Distributed Ledger
  Technology or DLT. All the transaction or
  information exchange taking place on this
  platform is time-stamped. It makes all the
  information easily trackable and traceable

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• . It creates a transparent system which makes it
  easy for everyone to notice what is happening
  within the system. Moreover, all the information
  is encrypted cryptographically which makes
  hacking of data even more difficult.
• Furthermore, the multifaceted features and use of
  blockchain again makes it an inevitable
  technology for the future. Any government or
  company if has command over such a robust
  technology which have a firm hold on the world
  economy and will change the course of business
  operations. This is the reason that nation like
  China is heavily investing in promoting the use
  of this technology.

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• We have seen the surge of many new companies that
  are proposing various uses of the blockchain. For
  example, today we have companies that are
  offering decentralised Content Driven Solutions,
  some are providing a decentralised platform for
  healthcare, companies are working today creation
  of a decentralised platform for recruitment,
  donation and much more. With such a vast area of
  applications, Blockchain holds a secure future.
  Undeniably many nations are investing in this
  technology to make it even better. Since
  blockchain is just a decade old technology, and
  hence, this technology is at a very nascent
  stage. It needs a lot of improvisation, at both
  technical and application aspect.

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What is China doing in this field?

• China is in the league of those nations who are
  actively working towards exploring new uses of
  the blockchain. We have already heard about
  Chinese companies coming up with a decentralized
  content delivery system which is going to be a
  big challenge to YouTube. But the story doesnt
  end here, and there is much more to it. A
  government-aided investment association is coming
  up with a funding center which aims at promoting
  blockchain development.

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• Global Blockchain Investment and Development
  Center (GBIDC), led by the Investment Association
  of China (IAC) will be working in this direction.
  IAC is a social organisation that assists major
  domestic investment projects and has attracted
  foreign capital.
• On April 9, this year to promote Chinese
  blockchain startups, the Xiong A Global
  Blockchain Innovation Fund launched 1.6 billion
  (10 billion yuan) project. The Hangzhou
  Blockchain Industrial Park in China will work as
  an incubation center to promote and aid the
  blockchain startups. It is based in Hangzhou city
  which is one of the largest tech hubs in China
  and the abode of Alibaba.

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• Xu Xiaoping is one of the leading angel investors
  in China is also the founder of Zhen Fund which
  is a venture capital company. This company has
  invested in blockchain projects like Lino and
  Stream. Another such firm, Lo Xiaoli who is a
  prominent Bitcoin investor will be managing the
  funding part of this funding center.

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What is the objective of this new funding center?

• This new funding center will work under the IACs
  Foreign Investment Committee. It will look for
  collaboration with foreign companies for
  blockchain projects and will also aid the
  domestic initiatives. This funding center will
  work beyond providing financial assistance, and
  it will also provide consulting services to an
  institution which are looking forward to
  investing in blockchain initiatives.

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• IAC was established in 2001, and since then it is
  working in close association with Chinas
  National Development and Reform Commission which
  is a primary government agency. This agency looks
  at the economic and investment reforms in China.
• Since IAC promotes the funding center GBIDC, it
  reflects the interest and inclination of China
  towards the promotion of blockchain related
  activities.
• Learn more about Blockchain

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The Way Ahead-

• It's good to see that blockchain has emerged as a
  promising technology which is going to reform the
  course of industries. If a nation is working
  towards the development of this technology, then
  we can decipher the fact that it holds the
  potential to influence the economy massively.
  Countries like China which have a significant
  impact on the world economy, it is concentrating
  on developing blockchain and has established a
  separate division which will only work towards
  development and promotion of blockchain, will
  soon reap the benefit of first-mover advantage.

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