In China, most blockchain R&D funds are going toward this segment
China's growing interest in blockchain technology spreads to publicly traded companies. A report published by Securities Daily explained how China's publicly-listed companies spend the millions they have allocated toward blockchain R&D. The study surveyed 23 companies in China who began working with blockchain back in 2016. Figures suggest that companies allocate an average 20% of their annual revenues toward such purposes. The majority of these funds are spent to further government-related solutions.The report highlighted that Yuanguang Software, an enterprise software provider, have....
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On 26 March 2013 the renowned BBC Newsnight produced a 9:20 segment for about 700,000 viewers on the new decentralized virtual currency Bitcoin. Veteran journalist Jeremy Paxman hosted Daniel Knowles, a writer for The Economist, and Trace Mayer of Run To Gold and How To Vanish. Being a professional journalist myself, although mostly contained to the written word, I know how difficult it is to research a story, craft an engaging script and then produce a segment all under the extremely tight deadlines imposed by current events. Being a long-time fan of the BBC, it must be the accents!, I....
Internet of Things is the next in-thing. All electronic device manufacturing companies are eyeing the segment. Intel, Samsung, Google... you name it and they are gradually making inroads into the segment. Intel especially already has a lot riding on it. The semiconductor company is working hard to be the first on to get there. Intel's sense of urgency to dominate the Internet of Things segment was evident in its recent keynote during annual Intel Developer Forum earlier this week when they displayed proof of concept robots that can be controlled with hand gestures. Some of the other....
China's state social security system is reportedly looking into how it could leverage blockchain technology. According to state-run newspaper China Daily, Wang Zhongmin, the National Council for Social Security Fund's vice chairman, the office is exploring the technology with the goal of reducing transaction costs. The article, while presenting a potentially notable development from China, had few details on what this integration would entail. Zhongmin said: "There's no doubt that blockchain technology will be used in the Social Security system because of its valuable applications in....
BTC China, which is now the world's largest Bitcoin exchange, has received a whopping $5 million in Series A investor funds from venture capitalists from Lightspeed China Partners and Lightspeed Venture partners. It's a lot of money, and it's absolutely needed. The exchange has been growing so rapidly and has passed Mt. Gox as the number one exchange, with an average of 90,000 BTC trades daily (about $5.4 million at the current exchange rate). Bobby Lee, who heads BTC China says the money will be used for "general operating expenses", but to also "aggressively grow and expand the....
He doesn't seem to think China is that far ahead of the USA when it comes to blockchain development — at least for now. Wu Zhongze, China's former vice-minister for Science and Technology and a well-known digital economics expert, believes that blockchain technology is still quite young.During an interview with The Paper, the former IT minister also stated that there was still “not much difference between where China and leading economies such as the United States and Europe” stand in terms of developing blockchain-based ecosystems.Wu noted, however, that China has improved across a number....