China’s Top 5 Blockchain-Based Projects - From Malaysia’s New Crypto City to Property Trading
Although initial coin offerings and cryptocurrency exchanges are banned in China, this country’s enthusiasm for the blockchain is impressive.
In 2017, the number of blockchain startups in the country has grown by 64% compared to 2016. Also, in 2018, China became the world leader in start-up investment, having managed to attract 47% of global venture capital.
1. Blockchain city for tourists
China Wuyi is now using the blockchain technology to build an innovative tourist city in Malaysia. The project is supported by the Government of China and a number of major companies, including Poly, CCCC, and SWT International Sdn Bhd.
2. Property trading platform
New World Development construction company is developing a blockchain property trading platform in partnership with the Institute of Applied Science and Technology Studies of Hong Kong (ASTRI). The project is supported by the Bank of China, which intends to be the first to exploit the website’s potential for property sale and purchase contracts management …
3. Tax revenue accounting system
The joint blockchain project of Tencent Holdings and the Shenzhen Tax Service aims to optimize the tax collection procedure and combat tax evasion.
4. Transparent loan servicing
The largest P2P lending platform, Lufax has launched a blockchain system intended to verify the identities of borrowers and lenders and keep track of transactions between parties.
5. Eco-friendly blockchain chicken farms
Insurance company ZhongAn is building blockchain chicken farms in poor rural areas of China. The project is part of the National Poverty Reduction Program.
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