Huobi Labs Introduces $1 Billion Global Blockchain Industry Fund
Huobi Labs, one division of many under the Huobi Group, has announced a cooperative agreement with the Tianya Community, a popular online forum in China, to build a “Global Cultural and Creative Blockchain Lab” in Hainan Province, China. President Xi Jiping, the General Secretary of the Communist Party of China, has personally designated Hainan Province a ‘Special Economic Zone’ due to a new mission of economical reformation and has allowed for the Blockchain incubator. Given that China has banned cryptocurrency exchanges as well as trading and ICO activities entirely last September, Huobi’s expansion into Hainan Province might signal that it is an attempt to restart digital currency-related business in China.
The Huobi Group is the leading global cryptocurrency exchange and blockchain asset financial service provider, consisting of Huobi OTC, Huobi Autonomous Digital Asset Exchange (HADAX in short), Huobi Pro, Huobi China, and Huobi Mining Pool. More is yet to come and Huobi Group announced just last week its plans to expand into Europe with new offices in London opening later this year. Huobi Global currently has planted offices in Singapore, the United States, Japan, Korea, Hong Kong, and is prevalent in over 130 countries across the globe. Moreover,Li Lin, the chief executive and founder of Huobi Group, has announced many new activities for Huobi in the coming months and years. Namely, here is a list of a few of those check-off items:
1. Move the Huobi China headquarters to Hainan Ecological Software Park.
2. Collaborate with top global industry companies to build 10 Global Blockchain+ labs.
3. Build a global top blockchain research institute with the world’s top universities.
4. Build 40,000 square meters blockchain incubator.
In addition to those ambitious plans, Huobi is also initiating this $1 Billion global blockchain industry fund. Since the Chinese government announced they will set up an international free trade zone by 2020 on the island of Hainan to grant foreign firms greater economic freedom, Huobi jumped on the opportunity and acted quickly and astonishingly. Huobi intends to take full advantage of the technology, talent, resources, and capital strengths in the blockchain industry to contribute to the development of Hainan Special Economic Zone and the construction of an international free trade zone. As a patriotic Chinese company, Huobi China will also actively follow-up with the national-level strategy.
Hainan Province has been deeply committed to reforming and opening up several initiatives from different realms. Such initiatives are also meant to channel the talent that the country has and capitalize on its strengths and assets. Thankfully, Huobi Labs provides blockchain startups services such as designing a business model, tutoring for high-quality project teams, and helping startup projects sort out strategic plans. Huobi also provides monetary funds and technical support, as well as access into their SMART-chain evaluation model, to help project teams build technical structures, marketing, community operations.
Huobi Labs and the Tianya Community are also planning to create a billion-dollar global blockchain industry fund later this year. This money will be used to fund startups and ensure the blockchain industry will continue to thrive in China. So, if you are looking to reform and innovate and have great ideas and projects utilizing Blockchain, reach out and learn more. Take advantage of this grand opportunity!