OK Group To Invest $140M Towards Blockchain Adoption in China, Will OKCoin See A Boost?

    Industries around the world have become increasingly interested in the impact that blockchain can make in their sectors. The fintech originally came out of the development of cryptocurrency but use cases in supply chain management and other logistics-related industries has proven that it can be applied many other places. Though China has strict regulations over cryptocurrency, the OK Group is hoping to help the country use blockchain technology to their advantage as well.

    • OK Group is the operator of the cryptocurrency exchange for OKCoin.
    • Founder of OK Group, Star Xu, is also the co-founder and CEO of the OKCoin Exchange.

    Blockchain technology appeals to many companies and industries around the world, and China wants to be involved in this innovation as well. To create a path that is welcoming to blockchain adoption, OK Group will soon be investing $140 million for blockchain adoption in the country, according to reports from The Block. OK, Group is the operator of the OKCoin cryptocurrency exchange.

    With the new investment, OK Group aims to set up a facility called the Asia Pacific Innovation Center, which will be located in the Hainan province. The announcement, which was released to The Block over the weekend, adds that the Hainan government and OK Group will work together to enhance the ecosystem in China for this fintech.

    Founder Star Xu of OK Group stated, “Hainan has established the solid foundation for innovation industries, and with the [accelerated] development of blockchain technology, OK Group is really glad to achieve this cooperation.” Xu also works as the CEO and co-founder of the OKCoin exchange in Beijing.

    Both an international blockchain entrepreneurship base and a blockchain data research institution will be included with the innovation center, according to OK Group. The exchange operator added that the institution will push for adoption in the country by creating new blockchain applications, which will target education, employment, and healthcare, among other sectors.

    Xu added that the OK Group is planning to “make full use” of the new center, aiming “to support the innovation and entrepreneurship in the blockchain industry via selecting the potential projects, cultivating industry talents, and incubating the blockchain star-ups.”

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    Krystle M
    Krystle is an American cryptocurrency blogger that wants to see the future of crypto and blockchain technology evolve. She has been writing about cryptocurrency for about a year, with a special interest in blockchain technology and regulatory measures around the world. While away from writing and learning about the changes in the cryptocurrency industry, she likes to indulge in science fiction novels and further her experience in playing both guitar and piano.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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