China Launches Licensed Blockchain ‘Pilot Zone’ to Further Tech Usage

China’s Hainan Province became the host of the country’s “first” officially licensed “‘blockchain pilot zone” Monday, Oct. 8, China’s official state-run press agency Xinhua reports.

China’s Hainan Province became the host of the country’s “first” officially licensed “‘blockchain pilot zone” Monday, Oct. 8, China’s official state-run press agency Xinhua reports.

With its base at the Hainan Resort Software Community (RSC), a dedicated tech space and software park, the pilot zone incorporates several partnerships, chief among which are a blockchain research institute and innovation center.

According to Xinhua, Wang Jing, head of Hainan’s provincial department of industry and information technology, the zone will bring in international talent to China:

“The pilot zone will commit to attracting blockchain talent around the world and exploring the application of blockchain in areas such as cross-border trade, inclusive finance and credit rating.”

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