China Approves 197 Blockchain Firms, Baidu and Alibaba Listed

China’s top-level internet censorship agency has unveiled the first round of firms that were successful in their applications to begin their Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term-related services in the country.

Besides start-up companies, the Affiliates Affiliates Affiliates serve as an essential component of a broker’s client acquisition tactics and marketing. One of the most important functions of affiliate marketers is the sending of leads to the broker, which are directly opening an account or visiting the broker’s website. There are several ways in which brokers compensate affiliates based on the number and type of clients they refer to the company and whether or not or how much they end up depositing.Understanding CPA or Cost Per Acquisition The bro Affiliates serve as an essential component of a broker’s client acquisition tactics and marketing. One of the most important functions of affiliate marketers is the sending of leads to the broker, which are directly opening an account or visiting the broker’s website. There are several ways in which brokers compensate affiliates based on the number and type of clients they refer to the company and whether or not or how much they end up depositing.Understanding CPA or Cost Per Acquisition The bro Read this Term of technology giants such as Alibaba, Baidu, and Tencent appeared in the list of firms exploring blockchain’s potential uses, which included a total of 197 businesses. Their blockchain-related initiatives with the names like Baidu Blockchain Engine (BBE), Alibaba Cloud Blockchain-as-a-Service (BaaS), Tencent BaaS (TBaaS) and the BaaS platform owned by JD.com were among the companies featured in the list.

For instance, Baidu’s crypto product is called ‘Super Chain’ and is compatible with Bitcoin and Ethereum mining operations. The local equivalent of Google has been in the limelight for being one of prosperous IT companies originating from China.

According to the listing issued by the Cyberspace Administration of China – the country’s central internet regulator – logistics, government, and medical services are areas that their providers obtained the largest number of approvals. The authorized companies are not allowed to use the blockchain technology for any commercial purpose.

Earlier this year, China‘s regulators approved a set of regulation for blockchain service providers in the country which came into effect by the middle of February.

China Favors Blockchain over Cryptocurrency

With the rules set in place, companies that do not comply would be initially issued a warning and the failure to act within the specified timeline would result in a fine, the range of which depends on the severity of the offense.

In addition, law enforcement must be able to access data posted on the blockchain when necessary, while providers must keep records about transactions and other relevant information and report illegal use to authorities.

China previously declared war against cryptocurrencies, prohibiting initial coin offerings and clamping down on its promoters. But China’s raid on the virtual asset class, which started in ‎‎September 2017, failed to dampen local investors’ ‎enthusiasm, as many have resorted to other channels to get ‎around the crackdown. ‎

Despite such reservations, the government supported the underlying blockchain technology to revolutionize economic sectors and even included the technology in its roadmap for the nation’s development by 2020.