224 Blockchain Ventures Approved By Chinese Cyberspace Regulators

According to China’s Office of the Central Cyberspace Affairs Commission (OCCAC), the third round of blockchain projects towards approval by the Chinese regulators is taking off.

The latest addition to the commission’s registry is 224 distributed ledger technology (DLT) ventures and it includes leading technology companies Alibaba, Baidu and China Mobile.

It seems that the news was first revealed by a Twitter user AliceolaCrypto on April 26:

“#China has just announced the 3rd batch list of #blockchain filings, 224 projects approved this time. Beijing projects account for nearly 40% of applications. There r 53 #Fintech blockchain projects which is the largest category, accounting for 1/4.”

The same Twitter user posted a screenshot of the OCCAC’s announcement on April 27:

“#China The whole list of 224 #blockchain companies approved this time. It is a Chinese PDF. I will translate the highlight part”

The user noted that about 40 percent of the 224 approved projects are from Beijing. Approximately one out of four of projects will focus on the fintech sector.

Among the approved projects are ventures from many leading corporations, which include Walmart China whose safety tracking initiative of has been in place.

Companies involved in rolling out of the blockchain network backed by the Chinese government like China Mobile, China Merchants Bank, and Alibaba are also among the approved projects.

They have given permission to some of the entities to go ahead with several DLT projects, with five blockchain ventures from China Merchants Bank approved.

The Chinese government announced the commercial launch of its Blockchain Service Network (BSN) which people have been waiting for.

According to the government, over two thousand developers were able to build on top of the BSN within the six months that preceded the beta release in Oct. 2019. The applications built include those meant to assist public welfare distribution, commodity tracing, and digital invoicing.

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Featured image courtesy of Shutterstock. Source: Cryptopress.

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