The blockchain institute of Binance China has recently formed a partnership with Zhongshang Beidon which is a state-level enterprise. This partnership has been formed to develop the digital infrastructure for both medium and small-scale enterprises across the country. This was announced by Binance China Institute on July 03 and both the firms will be working for the supply chain innovation under the supervision of State-Owned Assets Supervision and Administration Commission, SASAC of the Chinese State Council.
Binance China Institute to rebuild supply chain infrastructure
While announcing this partnership, it has also been revealed that Binance China Institute along with Zhongshang Beidon will be working on the redevelopment of the supply chain infrastructure across the country. Along with this, they will also work towards the development of the digital economy of the country as well as industrial innovation also. The firms have also specified that they will be collaborating on the development of various projects, scientific research and a lot more things. Hongtao Duan, chairman of Zhongshang Beidou has said that by using blockchain technology in the supply chain industry will work towards bringing a chain in capital markets. Along with this, it will also help to reshape both agricultural and vintage brands of the country.
Facilitation of Beijing’s Belt and Road Initiative
The Binance China Institute has also revealed that the institute has joined the United Nations Global Compact. This step is counted as a great effort in facilitating Beijing’s Belt and Road Initiative. Through this latest collaboration, it has also been revealed that the institute will be launching a New Digital Infrastructure Hundred Cities Thousand Enterprises Spark Project. The firm has planned to invest 100 million renminbi for the next two years. This investment will be made for around 1000 medium and small-scale enterprises in China. It will also work towards the development and enhancement of blockchain industries of the country.
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