Cryptocurrency exchanges are involved in the market not only by offering their services, buy also by investing large amounts of money in research and development. And this is what Huobi China is doing. It has decided to set up a $1 billion blockchain fund that will be used to invest in blockchain technology projects.
Huobi China Blockchain Funding
There are many cryptocurrency and blockchain related companies that are investing large sums of money in research and development. Huobi China has decided to focus its attention on the Chinese market by establishing a partnership with Tianya Community Network Technology, an important social networking platform in the Asian country.
Different companies from several industries can benefit from blockchain technology and increase their efficiency. For example, the health, supply chain, logistics, and financial industries and reduce costs and provide better products and services. But in order to do so, it is important to investigate, research and invest in DLT.
China is being one of the countries leading the blockchain revolution. Indeed, it has registered more DLT patents than the United States, the most powerful country in the world. In the future, this technology will have an incredible impact in our daily lives. But only those countries that will be prepared will benefit from it.
Huobi China is taking an important step in order to spread the importance of that technology and how it can be game changing. This is why it has decided to create a $1-billion-dollar fund that will be used for funding start-ups and ensuring that the blockchain industry keeps growing in the Asian country.
Huobi Labs will also be working with different universities in order to advance blockchain research and connect students with interested enterprises.
Huobi is now the third most important cryptocurrency exchange in the world. It handled over $1.79 billion dollars of volume in the last 24 hours. The most important trading pairs are EOS/USDT, BTC/USDT, ETH/USDT, accounting 31% of the total trading volume.
China is still one of the most closed countries towards cryptocurrencies in the world. But Blockchain technology is spreading among the most important enterprises.