According to LongHash, the number of start-ups related to the blockchain has increased significantly in China. There were 10,000 new companies registered in the first half of 2020 despite the coronavirus crisis.
10,000 business start-ups
The blockbuster sector in China is not in crisis. It has seen the creation of 10,000 additional companies in the country between January and July 2020.
The data also reveal that 2020 could be a record year for dynamism and could surpass the 2018 total of 18,500 new companies.
There are a total of 84 410 companies linked to a blockchain activity and about 30 000 active companies. The Guangdong and Yunnan Province in south-eastern China has the largest number of companies.
However, the majority of these companies do not have significant start-up capital. The average share capital is 5,000 yuan or about 600 euros for 46% of the companies. Only 10% of these companies started with a capital of more than 50,000 yuan or about 6,000 euros.