February 27, 2021

IDC: China will invest in blockchain up to $ 2 billion by 2023

According to the research company International Data Corporation (IDC), China will invest up to $ 2 billion in development blockchain companies until 2023. The industry's average annual growth is 65.7%.

According to analysts, this year the mostfunds were invested in banking and payment technologies, as well as in the retail industry. Additional costs in other areas will ensure widespread innovation. Researchers emphasized that a blockchain with fixed data records in a decentralized network has various application scenarios.

Recall that recently, the Chairman of the ChineseThe People's Republic of Xi Jinping called for speeding up the implementation of blockchain in the country, calling the latest technology the basis for transformations in industry, finance and other industries.

Also recently, the state Chinese editionXinhua has released an article entitled “Bitcoin is the first successful application of the blockchain.” The publication discusses the intricacies of blockchain and cryptography, and also explains terms such as “consensus”, “mining” and “halving the reward for block mining”.

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