China Partners With Future FinTech Group To Develop Its Blockchain Incubation Business
Future Fintech Group, that deals with financial and technological development and whose headquarters are in Florida, United States of America (USA), announced on July 26th 2018 that it would be establishing a wholly owned subsidiary called China Future Digital Fintech Ltd. This subsidiary will be based in Beijing and will help build FTFT’s accelerator “Chain World Cyberspace” and utilize the potential inherent in blockchain to enhance public administration services and other stuff in government and other institutions.
Friendly Ecosystem Attracts More Companies
According to the press release, Yongke Xue, the CEO and Chairman of Future FinTech said that the main reason why this company settled on Beijing as the base for Chain World Cyberspace is because of its friendly business environment especially for start-ups. Beijing is China’s political, economic and cultural center, explaining the reason as to why many blockchain companies prefer the city for their businesses.
Xue further said that already four projects have joined the first phase of the accelerator in Beijing. Chain World Cyberspace aims to offer services such as common working space within central business districts, improve service delivery and public administration, media consulting, easy accessibility to a world-wide network of blockchain accelerators.
The company is also planning to introduce a series of value added services. These services include Blockchain Technology Training, Blockchain infrastructure Support, financial advisory services as well as assistance on Digital Asset marketing among others.
Countries Joining Blockchain Bandwagon En masse
With all the potential Blockchain Technology has envisaged especially in the areas of public administration, supply chain management, banking, healthcare and real estate among others, many governments are now cumbering to develop their systems in line with this technology. No one wants to be left behind.
It is true that many countries are yet to embrace cryptocurrencies and some are even trying to ban the digital coins all together. However, the technology under which these coins operate is showing signs of progress, with many countries trying to incorporate it into their systems.
Countries such as India, Japan, China and Korea, are already working towards incorporating the blockchain technology into their everyday operations. It is evident that this tech will help streamline most of public service activities. Small businesses have also not been left behind as this technology has a potential to significantly change their business operations and improve their economy and that of their countries.