Recent information issued by the LongHash cryptocurrency data platform shows that the adoption of blockchain technology in China continues to increase. According to data from January 26, the country already has 79,556 registered blockchain companies, with 26,089 already in operation. In addition, only in January of this year, 714 new companies in the sector were founded in the country. The report also shows that 57,257 companies had their operating licenses revoked.
One of the graphics on the platform indicates that from 2009 to 2017, the number of blockchain companies founded was relatively stable, until it jumped in 2018. The average, which was approximately 5,500 companies per year, increased to 19,072 in 2018. Next year In 2019, there was a drop to 14,014.
Registered capital values
LongHash also presents the capital data recorded by these companies, which are still considerably low. Just over 46% of them have less than 5,000 yuan of registered capital, about $ 716. More than 26% of companies have between US $ 1,432 and US $ 7,162; 18.32% have between US $ 716 and US $ 1,432 and only 9.17% of them have more than US $ 7,162 in registered capital.
Guandong Province leads the ranking
The region that has the largest number of blockchain companies is Guandong. Alone, the coastal province of southwest China is responsible for 22,636 of the companies registered in the country, almost 28.5% of the total. In early January, for example, the Guandong government launched a blockchain-based financing platform to help small businesses obtain loans from commercial banks more quickly.
