Okcoin to Invest $140 Million in China for Blockchain Adoption

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Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

Okcoin to Invest $140 Million in China for Blockchain Adoption

  • One of the most important examples is the applications that are making use of blockchain. 
  • Okcoin raised several million dollars in its initial stage from various companies in various countries like China, the USA, and others also.
  • The main targeted sectors for the blockchain application are education, employment, healthcare, and food safety.

It is one of the largest cryptocurrency exchanges in the world. As cryptocurrencies have gained a lot of importance around the world, the products and services have also become simultaneously important. One of the most important examples is the applications that are making use of blockchain. 

History of Okcoin:

Okcoin was founded by Star Xu in the year 2013, who is also the present CEO. Okcoin raised several million dollars in its initial stage from various companies in various countries like China, the USA, and others also. Star Xu worked as a chief technical officer at Docln.com, he worked on developing various search algorithms in Yahoo and Alibaba. 2013 Okcoin has grown into one of the largest cryptocurrency exchanges in the world.

“Hainan has established a robust foundation for industries besides the development of blockchain technology, Ok group is very glad to achieve this cooperation,” said Star Xu, founder of the Ok group.

Okcoin was affected by the Chinese government’s crackdown on cryptocurrency exchanges, a number of cryptocurrency exchanges in China announced in September 2017 that the companies will halt its services for the local customers only. In addition to that Ok group indicated that it would halt only yuan-based trading cryptocurrencies.

The ok group will open an innovation center that will include the data research and international blockchain entrepreneurship base, the main targeted sectors for the blockchain application are education, employment, healthcare, and food safety.

“Ok group will ultimately build use of Asia Pacific Innovation center to support blockchain ventures in some ways by choosing the potential endeavor, incubating blockchain start-ups,” said Xu the CEO and one of the founders of Beijing based Okcoin.

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