Overview of China's blockchain industry: policy and industry layout

It has been 10 years since the birth of Bitcoin. During this period, the blockchain has also moved from the technology behind the token to the front stage, and has gradually become known to everyone.

Because the early token market was mixed with fish and dragons, and the quality of projects was uneven, many people were "cut off" by various fund scams, and were eventually rectified.

As the currency environment has been rectified one after another, phenomena and voices such as "bitcoin scam" and "blockchain bubble" have gradually decreased, and real blockchain technology and applications have begun to enter the public eye.

Compared with overseas, China's blockchain technology did not start early, but with the holding of the collective study meeting of the Political Bureau of the Central Committee on October 24, 2019, blockchain technology has truly become an "inflow" technology in China. The meeting called for accelerating the development of blockchain technology, and the blockchain industry officially entered the sprint track.

As of the end of June 2019, 25 provinces, municipalities, autonomous regions and special administrative regions across the country have issued blockchain-related policies, including Beijing, Shanghai, Guangdong, Jiangsu, Chongqing, Sichuan, Hunan, Hubei, Fujian, Liaoning, Guangxi, Heilongjiang, Inner Mongolia, Hainan and Hong Kong SAR, etc.

In terms of supporting policies for the blockchain industry, in October 2016, the Ministry of Industry and Information Technology issued the "White Paper on China's Blockchain Technology and Application Development", which first proposed a roadmap for my country's blockchain standardization. In December of the same year, "Blockchain" was written into the "Notice of the State Council on Printing and Distributing the "13th Five-Year" National Informatization Plan" as a strategic cutting-edge technology for the first time. Since then, the national and local governments have successively issued a number of programmatic documents to encourage research on emerging technologies such as blockchain and artificial intelligence, carry out their pilot applications, and support their innovative integration and cutting-edge layout.

Most local governments have relatively active blockchain policies, and the support methods mainly include setting up industrial bases and providing project incentives. Among them, as the frontier of reform and opening up, Guangdong Province has included the blockchain into the province's "13th Five-Year Plan" development plan, and the number of blockchain-related policies released is also in the forefront of the country, and has increased by 200 million per year since December 2017. Yuan financial investment is used to support the development of the blockchain industry.

With the support of policies, the blockchain is becoming a hot spot for entrepreneurship and a new type of competitiveness for large enterprises

With the foundation of the Internet, the technical characteristics of the blockchain itself are promoting the transformation from the "Internet of Information" to the "Internet of Value", leading global technological and industrial changes. Its development not only produces a new industrial ecology, but also solves the problem of trust and value Transmission and other practical issues, completed the transformation and upgrading of traditional industries. Under the gradually improved policy system, cutting-edge technology, vast market, endless opportunities and active market have attracted batch after batch of entrepreneurs into the blockchain industry, starting a new round of entrepreneurship and industrial upgrading.

1. In terms of quantity:Before 2016, there were less than 1,000 companies operating blockchain-related businesses in China, and the number grew slowly. Since 2016, more and more people have entered the blockchain field, and the number of blockchain companies has also begun to explode. The growth rate has exceeded 250% for two consecutive years. As of March 2019, the number of blockchain companies in China is second only to the United States, but only Internet companies such as BATJ (Baidu, Alibaba, Tencent, JD.com) have laid out the underlying infrastructure of the blockchain, and most companies are still based on Ethereum, Overseas open source blockchains such as Hyperledger build and improve their own products.

2. Investment:Since 2015, the proportion of strategic investment in the blockchain industry has gradually increased, from less than 10% to 24.38% in 2018.

3. Number of patents:Patents in China's blockchain field have dropped from an increase of about 3,000% in 2015 to 40% in 2018. It can be found that the development of global blockchain patents has gradually entered a period of steady growth from a period of rapid development. Among them, China's growth trend is very close to the global trend. The number of patents in China is increasing every year, and the proportion of new patents in the world is also increasing year by year, from 33.33% in 2014 to 82.1% in 2018. Thanks to the high attention of the national policy, the continuous investment of the company and the continuous influx of talents in the industry.

By observing the layout of large companies, we can find two major development directions:

1. From the perspective of application landing,Large companies have been deeply involved in vertical scenarios, looking for "blockchain +" solutions in finance, medical care, e-commerce, public welfare, legal affairs, traceability and other fields, and started small-scale pilot applications to inject new momentum into the ecological development of my country's blockchain industry.

Second, from the perspective of the cloud platform,With the continuous upgrading of cloud computing, large companies are laying out their own BaaS platforms, and are committed to creating all-round, full-lifecycle enterprise-level blockchain application solutions. In the future, market participants will also maintain this trend of coexistence of vertical scenarios and BaaS platforms.

In addition, large companies rely on their original advantages and have their own strengths in exploring the combination of blockchain and original channels and technological advantages, and their future development priorities may be different. What are the specific applications, we will talk about it in the next article.

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