ATIF Holdings Limited, a holding group best in providing business and financial consulting in Asia and North America, has started to research for the development of blockchain technology in China’s financial sector. It aims to strengthen ATIF’s expertise and further our preliminary exploration in the Fintech industry.
It was during the first half of 2020 that blockchain technology developed tremendously. As per, The Current Status and Prospects of China’s Blockchain Development in First Half 2020 published by the China Center for Information Industry Development, in the first half of 2020 in China, a total of 8,129 new blockchain-associated firms were registered, that contributed about 20.3% of the total number of blockchain companies. In late 2020, there were approximately 15 blockchain-based Chinese public companies in the US. Four were listed in the most recent two years, including cryptocurrency mining companies related to Bitcoin Ethereum.
In the last few years, China’s blockchain technology has developed exponentially in the financial sector, especially in the enterprise blockchain genre. Studies show that enterprise blockchain’s primary distribution is in the economic space-related to securities, corporate finance, digital currency, asset management, etc., accounting for up to 18% in the first half of 2020.
“Through our initial study on the blockchain, we recognize that implementation of this technology is most prevalent in the finance industry boasting the most projects and successful practices.” said Pishan Chi, Chief Executive Officer and Director of ATIF, “We believe that development and application of blockchain technology in finance can help companies reduce risk control costs and solve financing challenges in more effective ways. We expect our research to create incremental value to our business development, and more importantly, initiate our exploration of the Fintech field.”