China’s Hainan Province to Develop Free Trade Area for Blockchain
According to Sina Finance, China’s Hainan Resort Software Community (RSC) collaborated with the Oxford University Blockchain Research Center and announced the development of the “Oxford Hainan Blockchain Research Institute,” and also collaborated with the China Renmin University Big Data Blockchain and Supervision Technology Laboratory to develop the “Blockchain System Innovation Center.”
China announced that it will establish free trade test zone/free trade port throughout Hainan Province. In order to contribute to this national project with blockchain technology, Hainan’s Ministry of Industry and Information Technology will strengthen tie-ups with university institutions and strive to promote human resources and research and development. Furthermore, it is striving to develop related industries by utilizing blockchain technology to settle payments and issuing letters of credit, which are indispensable for the trade business.
The cryptocurrency exchange Huobi also moved its main office to Hainan Province.
