China's Central Cyberspace Commission (OCCAC) has conducted its third round of approvals for companiesdeveloping solutions on the blockchain. The regulator immediately approved 224 projects.
Of the 224 approved projects, about 40%Developed by companies from Beijing and about a quarter of them focus on the fintech sector. The approved lists included a project from large technology companies - Alibaba, Baidu and China Mobile.
Blockchain solutions fromlarge corporations. For example, Walmart’s Chinese division was allowed to develop a solution to track food supply and freshness. The list also included companies working on a national service blockchain platform, which was recently launched for commercial use.
Some companies are developing several solutions based on distributed registry technology. For example, China Merchants Bank prepares 5 such projects at once.
Recently, the Industrial and Commercial Bank of China (ICBC) analyzed the use of blockchain in the banking sector and launched services to track transactions during a pandemic.
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