The Securities Daily report details how listed Chinese companies are spending the millions they have poured into blockchain R&D. The study looked at 23 companies in China that started working with blockchain in 2016. The numbers show that companies behave on average 20%. From their annual income for these purposes. Most of this money goes towards continuing government-related decisions.

The report highlights that Yuanguang Software, a software provider, has increased related research spending by about $ 24.3 million since 2016. Other companies, such as Xinchen Technology, have been actively spending money on government blockchain-related research projects in an effort to improve the efficiency of the financial sector. For the nation.

Chen Xiaohua, Chairman of the China Mobile Association’s Blockchain Professional Committee, commented on the growing interest in blockchain among Chinese listed companies:

“Listed companies can use blockchain technology to improve their products, on the one hand. On the one hand, brand awareness and marketing are using blockchain technology to improve their technological level, overcoming the structural limitations of the traditional Internet model and the overall design of the digital economy. ”
Chinese companies have applied for 4,435 blockchain patents – more than half of all global blockchain patents, according to a report entitled “The Development of the Blockchain Industry in 2020”. The rise in interest came after Chinese President Xi Jinping approved the industry.

Source: CoinTelegraph