Huge Rise in Chinese ‘Blockchain’ Companies — But Are They Real?
Source Node:
https://cointelegraph.com/news/huge-rise-in-chinese-blockchain-companies-but-are-they-real
More than 35,000 blockchain companies are operating in mainland China — but it’s believed that many of them do not even use blockchain technology.In the first quarter of 2020, as COVID-19 shut down factories, offices and cities across the world, 2,383 brand-new “blockchain” companies sprung up in China.This brings the total to 35,010 companies as of April 1 — over 20,000 in Guangdong province alone — according to Tianyancha, a business data company.But in mid-February data firm LongHash estimated that approximately 70% of the total number of blockchain firms registered