As per recent figures released by Fortune Global 500, China currently sits behind the United States in terms of the number of companies exploring the potential of blockchain systems.

To be even more specific, China has 46 companies in the Fortune 500 list actively involved in implementing blockchain technology within their existing governance structures.

More on the matter

Ever since Bitcoin started gaining traction in 2017, blockchain technology too has garnered a lot of attention— with many experts referring to it as a ‘technical revolution’.

However, what is really surprising is that with each passing day, more and more multi-national enterprises are now devoting their time and energy towards researching this burgeoning technology.

In this regard, Xiao Feng, VP and executive director of Wanxiang Holdings Co. Ltd, can be considered to be a trendsetter of sorts. For starters, not only was he one of the first Asian businessmen to promote crypto enabled technologies, but at a recent conference, he was quoted as saying:

“There have been more than $500 billion in manufacturing companies and $1 trillion of dollars in the Internet industry. For blockchain related companies, there are likely to be $5 trillion in projects”.

Even though many of today’s blockchain platforms have a lot of creases to iron out, with soo many high-profile tech players now actively exploring this space, it is quite obvious that in the near future, this technology will no longer be confined to the world of finance and trade.

Final Take

We currently live in an age where only the daring survive. With blockchain garnering a lot of attention recently, this industry seems primed to witness a lot of exciting developments in the coming few months.

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