Published on July 23rd, 2018 | by bitcoin0
Nanjing China to Launch $1.5 Billion in Local Blockchain Project Funding
Nanjing, the capital of China’s Jiangsu province, has launched a 10 billion yuan ($1.48 billion) investment fund for blockchain development, ZDNet reports July 23.
Nanjing unveiled the major new fund at the inaugural Industrial Public Chain Summit (IPCS), together with the Zhongguancun Blockchain Industry Alliance –– a Beijing-based alliance of enterprises and government research institutes.
Among the high-level regional government officials reportedly in attendance at ICPS was the deputy secretary of the Communist Party of China in Nanjing, Luo Qun.
As part of the initiative, Nanjing will reportedly encourage and assist blockchain companies to establish a base in the city.
Blockchain is rapidly making inroads at all levels of Chinese government, with another major government-backed blockchain fund unveiled in the city of Hangzhou this April.