China sees spike in companies with blockchain in their name

Despite banning crypto exchanges, China wants to be a frontrunner in blockchain technology

Potential applications for blockchain. (Picture: China Internet Report)

Cryptocurrency may be banned in China, but there’s a blockchain boom of sorts happening right now.

The number of companies with “blockchain” in their name soared in the first seven months of the year, with 4,000 companies registered from January to July 16 -- that’s six times as many compared to the entire year before, according to the South China Morning Post.
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