Guangzhou to Build China’s First Demonstration Zone Blockchain

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Akhilesh Agnihotri
Akhilesh is an engineer and research subordinate working with thecoinrepublic.com as a part of the research team and do research work on Cryptocurrency and Blockchain. His curiosity in research and writing brings him to thecoinrepublic.com, He believes writing is all about expressing the thoughts with words and spread information backed by well-researched work.
  • According to the official statements released on Friday by the government, the southern metropolis is a major centre of industrial development. 
  • Guangzhou considered being the ideal city because of its diverse dynamics. 
  • The Providence has parallelly integrated various sectors of the traditional economy with blockchain advancements. 

Guangzhou, the capital province of a state in China, has been recently authorized to assist in the country’s blockchain industry by the Ministry of Industry and Information technology. It has approved to set up China’s first blockchain construction and pilot demonstration zone. This will invigorate the nation’s development in digital finance in the coming years. 

Official government reports 

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According to the official statements released on Friday by the government, the southern metropolis is a major centre of industrial development. Additionally, the province has undertaken measures to ensure the development of blockchain technology and industry in the next two years. 

Guangzhou said to take up all necessary efforts to kick-start innovation and development of blockchains. They plan on setting significant breakthroughs in the industry for decentralized evolutions of the core technology. However, efforts would modify Guangzhou into a city where the development of internal blockchain would be the core industry. 

The government is to provide guided promotion and encouragement to significant companies. The areas of development would be blockchain technology-based finance, supply chain, scientific research, logistics, information handling, smart manufacturing, and related businesses. Hence upgrade the overall chain technology and incorporate it with daily work processes. 

Why would the development be Guangzhou based? 

Guangzhou considered being the ideal city because of its diverse dynamics. Moreover, the city allows a productive scientific research environment, good momentum for the economy, and potent human resources. It shows a huge scope of becoming the next core crypto industrial centre. 

Partnership with other industries 

Guangzhou has parallelly integrated various sectors of the traditional economy with blockchain advancements. It has joined hands with major organizations like Alibaba, JD and Baidu, Tencent, etc. Thus, the official analysis states that more than 400 firms registered so far. 

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