China will Invest $2 Billion in Blockchain Technology by 2023

This information has been prepared and published by the International Data Processing. In their report, IDC employees analyzed the success of cryptocurrencies for 2018-2019 and gave a forecast up to 2023. In their opinion, the increase in interest in blockchain technologies will be about 65.7%.

Key Areas for Blockchain Innovation in China

Prerequisites for the spread of innovations were caused by the active development of banking and payment crypto technologies and blockchains of other areas, including:

• logistics;
• retail;
  
• service sector.
  

Official Support and Financial Sector Interest

This is not surprising since many high-ranking officials, successful businessmen, and financiers have repeatedly declared their interest in the blockchain. Secretary-general Xi Jinping stated that China should be a leader in the development and active use of blockchain technologies.

We already wrote about the promise of the Chinese chairman to help with the widespread adoption of the blockchain made during the summer meeting of the G20. You can also read about how the Chinese company Xunlei Limited launched a file system for high-throughput blockchains to make up your own mind on this issue.