China Sees New Blockchain Innovation Alliance, With Huawei and Alibaba as Members

Published at: April 14, 2020

China has welcomed its first provincial-level Blockchain Innovation Alliance on April 14, according to ChinaNews. 

Major enterprises settles 

More than 100 well-known enterprises, both domestic and foreign, have joined the alliance. Members include Inspur, Tsinghua Unigroup, Huawei, IBM, Tencent, Alibaba and Baidu, according to the announcement. 

The Alliance is located in the intelligent industry cluster in Yuzhong District.  It aims to build an open platform for blockchain communication, cooperation, innovation, and application among joint enterprises. 

Major players in China’s communications industry join with scientific research institutes on the alliance. Luo Qingquan, Director of Chongqing Big Data Development Bureau added that: 

“The establishment of the Alliance in Chongqing, facing the whole country, serving the construction of the “Belt and Road”, and gathering elite enterprises from all walks of life, will certainly play an important role in the development of Chongqing's blockchain application innovation industry.”

Public blockchain service platform will play an important role

During the opening, the Alliance also announced its official launch of a public service blockchain platform, “Yu Express Chain”. The platform is based on Inspur Blockchain Services (IBS) and will serve as a blockchain engine and development services provider. 

Zhang Fan, the vice president of the Inspur Group added that: 

“Yu Express Chain” will drive the industry to gather and develop. In the next five years, it will strive to realize the number of core enterprise patent applications of 1,000, serve enterprises and institutions, create 20 in-depth blockchain application scenarios, and drive enterprises to create an output value of 5 billion Renminbi.

As Cointelegraph reported earlier last month, the central Chinese province of Hunan established its first blockchain zone.

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