Chinese Academy of Sciences announces new Blockchain Lab Initiative

Chinese officials continue to push for blockchain growth as it recently announced a new Blockchain Lab Initiative. China is looking to create blockchain usage for government and commercial sectors. The blockchain lab initiative is in connection through a joint venture with Tai Cloud Corporation. Tai Cloud Corp has over 150 blockchain patents and is supported by the Chinese government.  China’s central bank is still very anti-crypto but China has been very supportive of blockchain technology. We are seeing a new type of technology battle across the world as countries compete to build and develop new innovative technology that will help transform the world as we know it. We continue to see China very active in supporting blockchain investment as it hopes to compete against the projects launched out of Silicon Valley and Crypto Valley in Europe.

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