Author: Iris Li
Overlooking the whole Mainland China, there are four major areas that having centralised high blockchain investments, which are Hangzhou, Beijing, Hainan Province and Shanghai. These four major areas of Mainland China have shown large interests in blockchain technologies.
Under the fanaticism, these four areas show different characteristics on blockchain investments. In fact, the openness of blockchain investments continue to increase from north China and south China.
Beijing: Does Not Welcome Cryptocurrency
The Beijing Blockchain Ecological Investment Capital has officially started with the support of Beijing Financial Services Authority. As the dean of OKEX Blockchain Engineering Academy, Mr. Mingxing Xu is one of the founding partners and a manager. The total investment in the capital has risen up to 1000M RMB and the capital focuses on the fields of ‘blockchain ecology education and training’, ‘blockchain applications in non-financial cryptocurrency’, ‘blockchain technology research and development’ as well as ‘blockchain technologies applications to achieve the transformation of traditional industries’. However, it is worth noting that this is a blockchain capital that does not touch any cryptocurrency.
Mr. Xuewen Huo, positioned as the managing director of Beijing Financial Services Authority, he stated at the launching ceremony of the capital,
“Today is not for an era of counterfeit currency. I particularly support the cryptocurrency-free blockchain and support the high-credible blockchain. Beijing does not welcome anyone who want to issue cryptocurrency.”
Meanwhile, Mr. Xuewen Huo who stands as the Fund sponsor has emphasised his stance of non-cryptocurrency to the public for many times.
According to the ‘White Paper of China Blockchain Industry in 2018’, Beijing has an absolute leading position in Mainland China blockchain startup cities with 175 companies and accounting for 38%.
Hangzhou: Invests in Both Hardware and Software of Blockchain
Ten Billion Xiongan Blockchain Innovation Capital has been officially launched in Hangzhou Blockchain Industrial Park. The total amount of the fund is 10 billion RMB, and 30% is contributed by government-led capital; while the remaining 70% is partially raised to social capital. Unlike other government-led capital, Hangzhou government does not require priority returns of the capital. One of the objectives is that the capital aims to establish a crypto asset research centre and explore to build up a government-led crypto asset exchange that satisfies Chinese characteristics. Compared to the Beijing Blockchain Ecological Investment Capital, the capital shows more openness.
Mr. Yongjie Yao and Mr. Xiaolai Li are co-managers of the Ten Billion Xiongan Blockchain Innovation Capital. Mr. Yongjie Yao, as the founder of Tunlan Capital that is a professional venture capital management company based in Hangzhou, China, has been a significant stakeholder of Canaan by holding 9% shares. Canaan Creative is the second blockchain miner manufacturer in China, which has 22% market share in current global bitcoin computing market. Mr. Yao stated that he would focus on hardware investments, including the combination of hardware and software in the blockchain industry; whereas, Mr. Xiaolai Li will charge the public blockchains investments and the whole layout of ecological system. Mr. Li is the founder of INBlockchain that is stood as the second influential investment group in the Chinese blockchain space.
Hainan Province: The Policy of Free Trade Pot Works
On 30th. April 2018, Huobi Pro Group announced to establish 10 global “blockchain plus” laboratories in Hainan province by collaborating with top world industry enterprises. Meanwhile, Huobi will build up a blockchain incubator of 4000 square meters and launch a global blockchain industry fund valuing a billion USD.
Strongly supported by the policy of Free Trade Pot, the founder of Huobi Group, Mr. Lin Li has transferred the headquarter of Huobi China into Hainan Province. More than 50 new blockchain startups have been established in the province from April to May this year. Based on the policy, there will be more and more blockchain companies in Hainan province.
Shanghai: Still Keeps a Low Profile
Compared to other three areas mentioned above, in fact, Shanghai is the first city to have the professional blockchain capital that is called Fenbushi Capital. Founded in 2015, Fenbushi Capital is the first China-based venture capital firm that exclusively invests in Blockchain-enabled companies. The mission is to accelerate the inevitable future of Blockchain economy by supporting as many companies as possible. Fenbushi Capital has invested 41 blockchain relative projects till April this year, including CerChain and Factom, etc. One thing should be highlighted is that the advisor of Fenbushi Capital is Vitalik Buterin, who is a programmer, writer, founder of Ethereum, the decentralized web 3.0 publishing platform and co-founder of Bitcoin Magazine.
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Content Image Resource: bitcoin.co.ua; medium