News > FinTech, Blockchain, Insurtech

China Green-Lights 197 Blockchain Companies, Including Giants Baidu, Alibaba, and Tencent

By NexChange
FinTech, Blockchain, Insurtech

The Chinese Cyberspace Administration has officially unveiled its first group of registered blockchain service providers, the Cointelegraph reports.

The list comprises of 197 companies, from startups like supply chain management firm VeChain and parcel delivery service ParcelX, to collossal initiatives such as Baidu Blockchain Engine and Alibaba Cloud Blockchain-as-a-Service (BaaS).

Tencent’s BaaS (TBaaS) platform also made the list, and so did JD.Com’s. Financial institutions such as Ping An Insurance and China Zheshang Bank were also among those that registered their blockchain services.

The Cyberspace Administration of China is purportedly looking for other services that need to be register, saying that “relevant institutions and individuals who have not fulfilled the filing procedures should apply for filing as soon as possible.” Interestingly enough, they also said that “no institution or individual is permitted to use blockchain for any commercial purpose.”

At any rate, Cointelegraph – citing one of its earlier reports – says that China currently leads the world in regards to blockchain projects underway. With 197 registered in the first wave, it’s a little hard to doubt that claim.

Photo: Daniel Cukier

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