Cyberspace Administration of China Approves Several Blockchain Firms, Including Tencent and Alibaba

Cyberspace Administration of China has released the opening list of registered blockchain service providers, as per their March 30 notice. It is to be noted that the list is one hundred and ninety-seven companies long.

It is to be noted that Chinese initiatives by internet giants such as Alibaba Cloud Blockchain-as-a-Service (BaaS), Baidu Blockchain Engine, the BaaS platform owned by e-commerce giant, and Tencent BaaS (TBaaS) emerge on the list. Financial institutions such as the Ping An Insurance Company and China Zheshang Bank are also included.

It is to be noted that some less-known companies such as blockchain-enabled parcel delivery service ParcelX and supply chain management service VeChain are present on the list as well. Notably, the article also notes that no individual or institution is permitted to use blockchain for any commercial purpose.

Furthermore, the Chinese cyberspace administration will purportedly search for other services that should register and appropriate institutions and individuals who have not carried off the filing procedures should apply for filing as soon as feasible.

According to the media reports earlier this week, China is purportedly leading the world in the number of blockchain projects presently underway in the country.

In October last year, the cloud computing arm of China’s Alibaba Group, Alibaba Cloud, declared that it is boosting its BaaS offering outside China.

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