China's Cyberspace Regulators Approves the Second Batch Comprises 309 Blockchain Corporations

Midhat Ali Shaikh by Midhat Ali Shaikh - 01:06 PM Oct 22, 2019
China's Cyberspace Regulators Approves the Second Batch Comprises 309 Blockchain Corporations

China's Cyberspace Regulators Approves the Second Batch Comprises 309 Blockchain Corporations
China's Central Internet  Watchdog, the Cyberspace Administration of China (CAC), country's control agency, has released a list. And the list is of registered Blockchain service providers comprises of 309 companies.

This is the second batch list which China's regulators have published. It enlisted 309 blockchain service providers. These corporations belong to various industries such as cultural, tourism, educational institutions, e-commerce,  law, health care, and supply chain finance. And this news is reported by the Chinese news outlet, 8BTC on 21st of October.

Traditional Areas of Industry Accepts Blockchain 


Amongst the registered blockchain service providers, Huawei's HiCloud blockchain service and Alibaba's AliCloud blockchain service are listed respectively.

Along with the technology corporations, traditional industry giant such as China Southern Airlines has also registered its China Southern Airline Chain. Besides, many financial services industry representatives such as Industrial and commercial bank of China is listed. Moreover, Ping An Bank, China UnionPay are also included in the list of the service provider.

As per the report, many of the blockchain startups are involved in the public chain, crypto wallets and mining pools are also a part of the newly formed Batch.

Besides commercial industries, multiple government sectors are on the list. The State Administration of Foreign Exchange has registered for the cross-border business blockchain services platform. While Hangzhou Internet Notary Office has registered for the record of its blockchain-based e-evidence repository. Moreover, Shenzhen Welfare Lottery Distribution Center's lottery verification system, etc.

Regulation or Censorship? 


Reportedly,  regulation for managing blockchain information services was first announced in October last year by CAC. However, it is implemented on February 15. And instantly became the topic of debate amongst crypto and blockchain enthusiasts because of its censorship like nature.

As per China's regulation Authority, China's blockchain service offerers need to verify their user's real name through national identity or contact numbers. Also, store and prove their clients' data for inspection to the authority.

Furthermore, firms are debarred from using blockchain to "produce, duplicate, publish, or disseminate" the content that is declared as a threat to national security.

Previously, the Cyberspace Administration of China published the list of the first batch in April. And the list comprised 197 registered blockchain service providers.

About The Author
Midhat Ali Shaikh

Midhat Ali ShaikhMidhat ali shaikh is a freelance content writer and is involved with renowned organization named knovatek pvt. ltd. also serving for vmatchu and nghostings

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