Chinese City Suzhou Plans Development District for Blockchain Space

The Chinese state is steadily expanding its blockchain industry. Suzhou is the next city to get a boost, with plans to build a district dedicated to emerging blockchain companies.

Suzhou is already home to around 36 blockchain-related companies. The emerging sector will be focusing on research and development and applications. According to the Chinese government, some of the blockchain-related entities based in Suzhou include Tongji Blockchain Research Institute, Aershan Digital Technology, and Xiaowei Cloud Chain. The government announcement was posted in the Xinhua Daily earlier today.

China has been ramping up its investments in the blockchain sector as of late. In April, the country formed a national blockchain committee to decide on standards for the industry. Committee members include Huawei, Tencent, and Ant Financial, as BeInCrypto has reported. Altogether, speculation on whether the ‘China blockchain narrative’ will lead the cryptocurrency market in 2020 may end up coming true. 


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As a leading organization in blockchain and fintech news, BeInCrypto always makes every effort to adhere to a strict set of editorial policies and practice the highest level of journalistic standards. That being said, we always encourage and urge readers to conduct their own research in relation to any claims made in this article.
This article is intended as news or presented for informational purposes only. The topic of the article and information provided could potentially impact the value of a digital asset or cryptocurrency but is never intended to do so. Likewise, the content of the article and information provided within is not intended to, and does not, present sufficient information for the purposes of making a financial decision or investment. This article is explicitly not intended to be financial advice, is not financial advice, and should not be construed as financial advice. The content and information provided in this article were not prepared by a certified financial professional. All readers should always conduct their own due diligence with a certified financial professional before making any investment decisions.
The author of this article may, at the time of its writing, hold any amount of Bitcoin, cryptocurrency, other digital currency, or financial instruments — including but not limited to any that appear in the contents of this article.

Jenny
Molly Jane is a Russian Literature major from California with a background in writing. She joins CurrencyTimes after working as a freelance journalist and blogger.

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