More than 10,000 blockchain companies were registered in China between January and July 2020, according to LongHash analytics platform.
Analysts expect more blockchain firms to open in China in 2020 than last year. Moreover, in the period from January to July this year, more such companies have already been opened than in the entire 2017.
A total of 84,410 blockchain companies were registered in China, but a significant part of these firms have already closed – currently only 29,340 companies operate.
Most blockchain companies were registered in Guangdong province in the southeast of the country. Yunnan Province ranked second in the number of registrations.
Moreover, most companies were registered with a minimum authorized capital. Typically, the authorized capital is 5,000 yuan ($ 717), and only a small number of companies have it listed at 50,000 yuan ($ 7,175).
A recent study by the Chinese company Zhaopin showed that the demand for blockchain specialists is constantly growing and salaries in this industry have grown by 133% in just one year.