Blockchain/Bitcoin China

6 Blockchain Projects That Gives a Snapshot of Shanghai’s Booming Blockchain Scene

Despite the crackdown on cryptocurrency by the Chinese Government the blockchain scene is thriving in China. Over the past 3 months the government of China has invested over US $ 3 billion in blockchain focused funds.

It is reported that there are over 3,000 companies in China registered with the word blockchain in their in the last 6 months alone.

At the centre of this blockchain boom is Shanghai, a whitepaper published by the Ministry of Industry and Information Technology dubbed Shanghai as one of the top cities for blockchain in country. The city accounts of 21% of blockchain companies in China.

With that in mind, let’s take a look at some of the projects that represent the blockchain scene in Shanghai

Blockchain Shanghai Projects

NEO

NEO (formerly Antshares) was founded in 2014 by Da Hong-Fei. It is often touted as the Ethereum of China, similar to its western counterpart NEO allows for smart contracts to be ran on its platform. It has seen relative success with number of ICOs being raised on its platform

However it is also worth noting there has been some criticism about NEO being very centralised and the unreliability of the platform

VeChain

VeChain is an enterprise level blockchain solution provider with offices across France, Singapore and Hong Kong, and of course – Shanghai.

The company recently entered into a partnership with one of China’s largest insurers, People’s Insurance Company of China with the aim of improving fraud prevention, KYC compliance and more notably they are reported to be working towards “instant compensation”.

Ontology

Launched by Chinese company Onchain in 2017, Ontology is a public platform for projects of all shapes and sizes. Its call to fame is that it allows for businesses without in-depth knowledge of blockchain to integrate the technology into their business.

It is also worth noting that Onchain’s CEO is also the co-founder of NEO, Da Hong Fei.

Red Pulse

Red Pulse is a market intelligence platform covering China’s financial and capital markets, the company’s platform Phoenix, incentivises research producers for their work and gives access to consumers to relevant research

The incentive system will be powered by their token PHX.

Zeepin

Built on the blockchain Zeepin is platform created to address issues face by writers, designers and the creative industry as a whole. It allows for creators to copyright, authorise, insure, connect, crowdfund and launch exciting projects using ZPT tokens for transactions.

Shanghai Stock Exchange

The Shanghai Stock Exchange is the world’s 4 largest stock exchange, it has recently announced that it is eyeing to use blockchain for their securities transaction citing that blockhain could be deployed to more effectively manage the settlements of their post-trading transactions

However reports seem to indicate that there are still some regulatory hurdles before this project can become a reality

Featured image via Pixabay