China’s Blockchain Goal: 2 Billion Dollars by 2023


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China, which has been one of the most talked about countries in the crypto currency and blockchain sector recently, can transfer an incredible capital of 2 billion dollars to blockchain technology by 2023.

China's Blockchain Investment to Continue

According to the research published by the global market research firm International Data Corpoartion (IDC), China's ”annual growth rate c will increase by 65.7 percent from 2018 to 2023. It is emphasized that China will devote the biggest slice in this growth to banking and payment technologies and that blockchain is located in this area.

Chinese President Xi Jinping in his speech weeks ago stated that they would play the global leadership for blockchain technology and with this statement he started an FOMO for both crypto coins and blockchain. Not only that, China has also given special protection to blockchain technology and has made its intentions clear. You can read the related news here.

In fact, other nearby countries began to participate in this trend initiated by China. Hong Kong recently announced that it will issue licenses for crypto currency exchanges, while Tunisia has announced that it has begun to develop its own digital currency. China's expected digital currency is expected to be released in early 2020, and experts say that with the arrival of the US dollar may lose its reserve currency status.

Of course, nothing in the crypto money and blockchain sector can be seen with certainty, and at any moment another superpower can make similar moves.

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