China sees spike in companies with blockchain in their name
Despite banning crypto exchanges, China wants to be a frontrunner in blockchain technology
Cryptocurrency may be banned in China, but there’s a blockchain boom of sorts happening right now.
In comparison, the US has only 817 -- about a fifth of the number in China.
There are now over 17,000 companies that list blockchain -- or qukuailian as it is known in Chinese -- as part of their business activities. But whether those companies actually use the technology is a different story.
As the price of bitcoin spiked last year, a number of companies sought to jump on the bandwagon by adding related terms to their names -- despite previously having very little to do with the technology.