Why do blockchain companies like to go to Hainan?

Author: 31QU

In 2018, China's first officially licensed blockchain industry test zone was established in Hainan Ecological Software.

On December 1, 2019, Hainan International Offshore Innovation and Pioneering Pilot Zone was unveiled. The recently renamed Ouke Group entered the first batch of blockchain companies.

In the past year or so, Hainan has attracted more than 70 blockchain companies to register and settle, including Eurotech Group, Huobi Group, Baidu Blockchain Lab, 360 Blockchain and Thunder Blockchain.

Why are blockchain companies coming together to go to Hainan?

Tighter supervision, formalization of acceptance is the way out for domestic blockchain companies

On October 25th, during the eighteenth collective study of the Political Bureau of the Central Committee, it was emphasized that blockchain should be used as an important breakthrough in independent innovation of core technology, the main attack direction should be clarified, investment should be increased, and a number of key core technologies should be overcome to accelerate Blockchain technology and industrial innovation and development. Immediately afterwards, a "People's Daily" article pointed out that blockchain innovation is not the same as speculating on digital currency. It should be prevented from using the blockchain to speculate on air currency.

What followed was a comprehensive screening and crackdown of illegal enterprises across the country, and exchanges and project parties across the country were cleaned up and inspected. Shenzhen, Beijing, Shanghai, including the Central Bank, all formally launched a storm-like siege on virtual currencies.

On November 6, the Hong Kong Securities Regulatory Commission announced that if any trading platform or person in Hong Kong sells virtual asset futures contracts or provides trading services for virtual asset futures contracts without a license or approval, it may violate the Securities and Futures Regulations. The SFC will not grant a license or approval for operating virtual currency transactions, that is, setting up a virtual exchange in Hong Kong to provide virtual currency trading services will be subject to criminal sanctions upon conviction.

On the afternoon of November 22, the central bank's Shanghai headquarters announced that it would launch a special rectification of virtual currency-related activities in the Shanghai region, and then formally issued a national announcement.

On the evening of November 22, Beijing's supervisory authorities announced that they will adhere to the principle of "showing up" for illegal financial activities such as virtual currencies, and continue to maintain a high-pressure regulatory situation. Once discovered, they will be dealt with seriously.

On November 26, Oriental Satellite TV reported that Shanghai reorganized the virtual currency business, and "Binan" in Shanghai closed. It is true that "The Block" previously reported on Binance's Shanghai office.

The Securities Times once stated that the Biki Exchange clamored for a 100-fold gain on Double 11 and that the project side besieged investors. According to reports, Biki's listing projects are basically "air coins" with no underlying technical team and no actual value. The so-called product white paper is full of loopholes.

It is also reported that all companies with the word blockchain in their names in Hangzhou must be put on record.

It can be seen that formalization will be the way out for domestic blockchain companies, and it may also be the only way out.

Giants enter, government subsidies

Nowadays, giants such as BATJ Huawei are laying out blockchain. The number of Alibaba blockchain patent applications has reached 1,005, ranking first in the number of global blockchain patents for three consecutive years.

It is worth mentioning that during the Double 11 this year, multiple e-commerce platforms have introduced blockchain technology. According to statistics, this year's Tmall merchandise protected by the ant blockchain has reached 150 million, covering 14,500 international brands. JD.com uses the "blockchain anti-counterfeiting traceability platform" to trace back over 1 billion items. At the same time, Suning also said at the Double 11 conference that the use of blockchain technology to trace the source of goods has exceeded 50%.

In the past year, many local governments across the country have promulgated detailed rules and regulations for blockchain policies, which provide subsidies for various matters ranging from 100,000 yuan to 6 million yuan. Subsidized matters include subsidies for the entry of blockchain enterprises, business incentives, Talent support, platform support, research institution support, financing loan subsidies, listing rewards, etc.

When it comes to government-level assistance to the blockchain, Hainan is the most obvious and most popular among blockchain companies. Of course, Hainan has also been at the forefront of the country on the blockchain, and wants to use the blockchain technology to achieve take-off in the province.

In 2018, China's first officially licensed blockchain industry test zone was established in Hainan Ecological Software.

In April 2019, Hainan went online to run the nation's first blockchain electronic deposit certification platform. In August, the Hainan Provincial Blockchain Technology Engineering Research Center was formally approved by the Hainan Development and Reform Commission. The center is also the 39 provincial level approved in 2019. One of Engineering Research Centers. In September, the Haikou Blockchain Association was formally established.

At present, blockchain companies such as Ouke Group, Huobi, and Bibox, as well as Baidu Blockchain Labs and 360 Blockchain, have settled in Hainan. According to the company's investigation data, in Hainan, there are 984 companies that include "blockchain" in their business scope.

On December 1, 2019, the "Hainan International Offshore Innovation and Entrepreneurship (Sanya) Pilot Zone" was officially unveiled, and Oke Group, Tianya Community, and Deding Innovation became the first batch of enterprises to settle in.

On the evening of the 2nd, a set of CCTV evening news also reported that Eurotech Group was the first batch of companies to enter the Hainan International Offshore Innovation and Entrepreneurship (Sanya) Pilot Zone and set up its Asia-Pacific headquarters in Sanya.

According to Wang Lu, deputy governor of the People's Government of Hainan Province, Hainan currently has two research areas on the blockchain, one is ecology, and the research is strengthened in basic aspects; the other is the standardization research of the blockchain to create a blockchain industry ecology. .

Hainan has already "chained" on the blockchain

In fact, Hainan has already “chained” the blockchain and has an inextricable bond with it.

The earliest traceable record of the Hainan blockchain dates back to 2017.

On January 17, 2017, a "Globalization Plan" was proposed at the Davos Forum. Four days later, China's first village-level global business block chain (GBBC) (Global Business Block Chain) Innovation Alliance was established in Longlou Town, Wenchang City. The Holy Village was established.

The Mayor of Wenchang City People ’s Government, Wang Xiaoqiao, said at the second meeting of the 15th People's Congress of Wenchang City that the role of China's first village-level blockchain innovation alliance will be fully leveraged to gather talents and resources in the blockchain field and actively cultivate them. And the introduction of aerospace science and technology engineering, green financial innovation and other blockchain industries.

Later, on April 13, 2018, the Party Central Committee decided to support Hainan's construction of a free trade pilot zone on the island, support Hainan's gradual exploration and steadily advance the construction of free trade ports with Chinese characteristics, and establish a free trade port policy and institutional system step by step.

On the first day after the National Day holiday in 2018, the boots officially landed. The Hainan Provincial Department of Industry and Information Technology officially awarded the Hainan Ecological Software Park and established the Hainan Free Trade Zone (Hong Kong) Blockchain Pilot Zone. This indicates that Hainan's industrial development has entered a new stage of development, and Hainan's development of digital economy industries such as blockchain has officially begun.

According to Haikou.com, a year-long “Chain Shanghai South” plan will be released for the first time on December 4. It is understood that the "Chain Shanghai South" plan is to empower the construction of the Hainan Free Trade Zone free trade port, and build a secure and trusted digital governance and supervision service system. Its main goal is to drive the system and industrial innovation with technological innovation, which can protect data. Under the premise of security, data can be efficiently flowed across regions and subjects.

Hainan's policy advantages, coupled with the talent brought by the presence of blockchain companies, Hainan can boldly experiment and innovate in the future, truly dig the value of blockchain technology and promote the early implementation, and companies can get better here. Development opportunities.

Source: 31QU, original text deleted