China’s Hainan Province is quickly becoming an experimental area for new technologies, industries, new models following its nature of being a national free trade zone that offers several regional dividends and policies. Cardano eyes it now.
With the theme of Unlocking the New Economy, the recently concluded International FinTech Innovation Conference (IFIC) was held under the management of the Sanya Municipality, and the People’s Daily; Huobi Group, FINWEX, People Digital, Guoyin Jinkong, and Sanya Municipal Bureau of Business also co-hosted the meeting.
Top organizations, investment groups, financial experts in the field of blockchain, cross-border, fintech, and e-commerce technology were invited to share their thoughts, visions, and ways they could participate in the development of Hainan’s new economy.
IOHK China branch, with the support of Cardano Foundation, was invited for the Sanya Summit with the sole purpose to introduce Cardano and IOHK (Input Output Hong Kong), the engineering company that is building Cardano, to the Chinese crypto market.
Apart from introducing Cardano and IOHK to the Chinese market, IOHK China team is privileged with the responsibility to participate and share the latest blockchain discussions among Chinese legislatures, entrepreneurs, researchers, among other stakeholders.
The IOHK China branch actively engaged in the conference, networking, exchanging, and sharing ideas with attendees opening the way for future cooperation.
As more and more blockchain-friendly policies continue to be realized in China, the country has over 600 blockchain enterprises today with the value of the industry expected to be worth more than 800 million RMB.
At present, the Chinese blockchain industry has a shortage of over 500,000 employees bringing the great potential the sector has in regards to cooperating with tertiary colleges and universities to train students offering training courses that will close the gap. As more traditional companies continue to make their way in the crypto industry, the industry will witness a considerable demand for talents with the growth of the sector.
At the current time, there is an excellent opportunity for universities and colleges to come up with blockchain-related academic disciplines, labs, and boot camps. Schools can also work with science and tech parks and innovation bases, blockchain, internet and financial enterprises to set-up enterprise universities to teach blockchain technical talents.
At present, Hainan has been named the first blockchain test field in the country by the Chinese Government, opening up space for tech companies to set up base in the area by offering favorable incentives such as tax benefits, free registration among many others. Hainan Province is quickly becoming a pilot zone for new technologies and industries scheduled to position the area as the new Silicon Valley of the world.
Since 2018, the blockchain industry has flourished leading to Chinese financial and internet giants investing in blockchain technology in areas such as finance, commodity traceability, cross-border settlements, digital content patent rights protection, financial sector, and public welfare. Considering that all, one thing we can say is, Cardano is playing its cards very well.
China’s Blockchain Industry Set to Pass the 116 Million USD Mark
In recent years, the blockchain industry has and continues to witness tremendous growth. The Chinese blockchain industry is estimated to pass the 116 million USD mark despite the current shortage of more than 500K employees in the market. Analysts have reasons to believe that more than 500 new blockchain companies are going to join the long list of firms that have established themselves in the country in 2019.
Following the growing trend and demand towards blockchain technology, traditional mainstream companies are looking to diversifying their businesses operations towards virtual asset management. Amid this revolt, it is essential that there is a conducive environment are for new developers to understand blockchain technology.
Cardano Plans to Introduce Blockchain Training Courses in Chinese Higher Learning Institutions
Considering the gap that currently exists, Cardano Foundation is looking into partnering with universities and colleges for fostering intensive blockchain training courses. At present, the Chinese Cardano team is busy showcasing the possibilities of blockchain technology to different stakeholders that include legislatures and entrepreneurs.
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