Guangzhou established its first blockchain industry association in Huangpu district under the promotion and guidance from the municipal government of the Huangpu and Guangzhou Development District on July 28.

Blockchains are distributed databases that are used to maintain a continuously growing list of records – the technology is often used for data encryption and privacy protection, which is tamper-resistant and absolutely secure.  

The technology was first introduced into China in 2016. According to Deng Di, the chairman of China Blockchain Application Research Center, Guangzhou is dedicated to becoming a new growth point for the industry after Beijing, Shanghai, Shenzhen, and Hangzhou.

The association was initiated by 16 enterprises and organizations, including Kaide Technology Limited and Guangzhou Research Institute of O-M-E Technology, and has about 50 members. The core mission is to establish a new industrial circle of information.

The association will offer supportive services to blockchain organizations, such as research and development, policy and standard making, technical training, and so on. The government has also introduced incentives to encourage the development of the industry.

To accelerate the development and application of blockchain techniques, the association will first design 10 application scenarios. The government will help to build four public service platforms and plans to set up a blockchain industrial park in Guangzhou development district.

At the founding ceremony, four blockchain deals were also inked. Ali Health will cooperate with four health centers in Guangzhou development district; IBM will open its first Hyperledger Fabric cooperative platform project in Guangzhou Science City; a blockchain innovative base and an open-source shared work space will be established.

Huang Jin, the chief scientist of IBM detailed the high efficiency of the blockchain techniques, using medical transport as an example. 

Deng Di, chairman of China Blockchain Application Research Center, gives a speech at the Guangzhou Blockchain Industry Association founding ceremony. [Photo/ep.ycwb.com]