Hangzhou Emerges as Leading Hub for Chinese Blockchain Sector

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The picturesque lakeside city of Hangzhou has become one of the leading hubs for China’s blockchain sector.

Hangzhou, the capital of Zhejiang province, has long been considered a key regional centre for China’s tech industry given its status as home to online giant Alibaba as well as Ant Financial.

In spite of it’s small size compared to the mega-cities of Beijing and Shanghai, the provincial capital is now fast emerging as a leading hub for China’s blockchain sector, as well as a highly popular destination for the country’s most talented tech personnel.

The “2018 Second Quarter Human Resources Attractiveness Report” (2018 年二季度人才吸引力报告) released by Chinese HR company Zhipin indicates that Hangzhou’s blockchain sector has enjoyed roaring growth that has transformed it into a “dark horse” for the industry.

Hangzhou is one of China’s most appealing cities for the country’s professional talent, ranking just behind the long-established mega-cities and industrial centres of Beijing, Shanghai, Guangzhou and Shenzhen.

The city is host to more than 30 blockchain companies, putting it second place in China after Beijing, while five of these companies made the list of the top 50 companies in the world for blockchain patents in 2017, with Alibaba alone registering a total of 49.

According to one membersof industry Hangzhou’s blockchain sector enjoys the benefit of the “four many’s” – a reference to “many policies, many funds, many enterprises, and many professionals.”

The China Banknote Printing and Minting Corporation, which is China’s official mint, has also chosen Hangzhou as the site for its blockchain research academy, which tracks the latest developments in blockchain and digital currency technologies and applications.

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