With the support of the Huangpu district government, Guangzhou Blockchain Industry Association was launched on July 28. As the first blockchain association in Guangzhou, it aims to help Guangzhou go digital by promoting cooperation among blockchain startups in this area.

“The founding of the association marks the beginning of a new journey for Guangzhou to go digital and become a city of innovation,” said Zhang Chaoping, vice director of Guangzhou Development Zone Administration Committee.

The association signed a strategic partnership agreement on blockchain projects. First, they will work with Alibaba Health Information Technology to start a blockchain lab seeking for better medical and healthcare solutions based on blockchain technology. Second, they will co-found a Hyperledger Fabric-based blockchain platform at Guangzhou Science City to revolutionize supply chain finance. Third, the association is ready for joint efforts with Guangzhou Equity Center and Guangzhou IP Exchange to set up the first blockchain innovation center in Guangzhou. Fourth, the association will establish a tech incubator to support and accelerate the pace of blockchain startups.

Entrepreneur Innovation Center

“On the Internet, nobody knows you are a dog. We are not able to build trust through the Internet. But in the blockchain technology we trust,” noted Huang Jin, chief architect of IBM China.

He believes that “Blockchain Plus”will greatly reduce transaction fees, simplify procedures, improve efficiency and ultimately improve industry productivity.

Ren Hao, president of Guangzhou Research Institute of O-M-E Technology thinks that six industries could first adopt blockchain technology, namely finance, healthcare, intellectual property, supply chain, the Internet of things and social governance.

At present, China has 105 blockchain startups and the USA 334 startups.

“Compared with Beijing and Shanghai, Guangzhou has lagged behind in the blockchain industry. But Guangzhou is home to a growing number of emerging industries. Now with the support of government, it is able to attract more investors and talents who see huge potential in the blockchain industry.”

Ren adds that there is a lack of blockchain talents and application scenarios have not been fully explored. Going forward, they will focus on training interdisciplinary experts who can better adopt the blockchain tech to transform traditional industry.