New projects around blockchain in China

China’s strategy on the blockchain would be inefficient without investing audience and venture capitals to boost this initiative and invest in new blockchain projects in China and nearby countries.

Last week’s announcement from China officials gave a huge boost to Bitcoin’s and other crypto’s price, boosting the overall market to profit more than 40 % over a couple of days.

More specific, over the first 6 months of 2019, more than 70 deals have been closed for blockchain projects in China, totally worth $ 368 million. The most funded company remained Bitmain, while the second place belongs to Hyperchain.

Fundamental Labs (a $ 500 million venture capital) plays an important role with investments in Coinbase, Canaan Creative and Binance. Many investments targeted also Bitcoin mining hardware from other venture capitals.

The new move from China towards blockchain seems to bring more funding and enthusiasm to this new technology.