Cyberspace Admin of China Launches Names of First 197 Registered Blockchain Service Providers
The internet regulator of China, the Cyberspace Administration of China (CAC), unveiled a few days ago, 197 registered blockchain service providers.
These firms were able to comply with the regulations for managing blockchain information services in the country. The information was released by Yicai on March 31.
Chinese Internet Regulator Licenses 197 Blockchain Projects
The new list of blockchain companies that offer information services to individuals includes BAT camp of Baidu, Alibaba and also Tencent. There are also some other smaller blockchain startups that have received permission to operate in the space.
At the moment Baidu has three different registered blockchain projects. One of the blockchain search engine known as Baidu Blockchain Engine (BBE), the blockchain protocol called Super Chain, and also the photo service Totem. At the same time, JD.com, the Chinese retail giant, has a Blockchain as a Service (BaaS) platform, a blockchain-enabled traceability platform and a Cloud blockchain-based data service platform.
There are many other big names in China that have been working with blockchain technology and developed blockchain services. These names include Ping An Insurance, China Zheshang Bank or WeBank. Meanwhile, VeChain (VEN) and BUMO (BU) have also been registered as service providers.
CAC informed that these 197 blockchain projects are not allowed to use their products or services for commercial purpose. The agency will be closely monitoring these registered projects.
China has been taking very hard measures against cryptocurrencies and digital assets. Blockchain technology, instead, has been embraced and promoted by the Chinese government in order to be a leader in the market.
It is worth mentioning that blockchain service providers in China are also required to verify users implement real-name registration for users using an ID or a telephone number. This shows that the government plays an important role in the market controlling the companies operating in it.