On May 10, the National Blockchain Technology Innovation Center, first announced in February, officially started its work in the Chinese capital city of Beijing. The center will collaborate with local universities, think tanks and blockchain businesses to develop blockchain technology in China. The institution will reportedly train more than 500,000 specialists in distributed ledger technology (DLT).
Leading the new center is the Beijing Academy of Blockchain and Edge Computing, which developed the ChainMaker blockchain; a home-grown blockchain serving as a blueprint for the center’s developments. ChainMaker is already supported by a group of 50 business corporations, most of which are state-owned, including big names like China Construction Bank (OTC:CICHF) and China Unicom (NYSE:CHU). As reported by local media, the center will accelerate the construction of “ultra-large-scale” blockchain computing power clusters.