16600 new Chinese companies describe their business using the word blockchain

China now has more than 4,000 companies with blockchain in their name. (Qixin search) Blockchain is the technology behind cryptocurrencies like bitcoin and ethereum.

Qukualian, the Chinese translation of blockchain, was used in the registered names of 3,078 companies so far in 2018. 555 companies applied to use names with the chinese word for blockchain in 2017.

A total of 16,600 chinese companies were established within the past 12 months with blockchain listed as part of their described lines of business. Over 3,800 of them had registered capital of over 10 million yuan (US$1.5 million).

About 41% of start-ups that received funding in China in the first quarter of last year were blockchain-related enterprises, according to the China Internet Report.

817 companies in the US and 335 in the UK have registered company names with blockchain according to a search on OpenCorporates.com.

Written by Nextbigfuture.com