As blockchain and virtual currencies keep expanding, the Chinese Ministry of Industry and Information Technology (CCID), explained that in a press release uploaded on may the 20th. Back in 2017, and during the first months fo2018, China has been receiving important investments from different blockchain-related companies.
Blockchain Technology Expands in 2018
According to the white paper published by the CCID, the government explains that there have been over 249 deals related to blockchain companies in China to date. But it is important to mention that the numbers are growing year after year. Back in 2016, just 60 funding rounds were recorded – 5 times more than in 2015. In 2017, nearly 100 investments deals have been recorded, and in 2018, during the first quarter, 68 deals were registered, showing how the tendency is accelerating.
The Chinese companies working with distributed ledger technology are focusing on blockchain applications (295 companies), applications in the real economy sectors (109) companies, and financial services (86 companies). Most of these enterprises are located in Beijing, Shanghai, Guangdong and Zhejiang.
Some days ago, the CCID released a monthly ratings index that evaluates 28 different cryptocurrencies and the blockchain platforms that are behind them.
@cnLedder, an important cryptocurrency and blockchain-related Twitter account from China uploaded the ranking that the CCID elaborated.
4/ Detailed scores of the first crypto ratings by CCID Research, China's Ministry of Industry & Information Technology pic.twitter.com/7LiJIWokge
— cnLedger (@cnLedger) May 17, 2018
The Index takes into account three different things so as to evaluate a virtual currency, the technology, the application, and the innovation that each token presents.
Ethereum has been chosen as the most important cryptocurrency and blockchain platform in the market with 129.4 points, scoring 80.3 in technology, 23.7 in application, and 25.4 in innovation. The second most valuable project, according to this index, is Steem, which accounted 115.9 points. In the third position came Lisk, scoring 104.8 points.
What surprised everyone was that Bitcoin was ranked in the 13th place and has the same number of points as Verge (88.1).
Blockchain technology is spreading everywhere in the world, among many different industries. The tendency is growing at good rates, and during this year, there will be many more projects embracing the technology.
