Blockchain Industrial Zone In Xinjiang To Host 100,000 Miners

On April 9th, the Hangzhou Blockchain Industrial Park was officially launched by the Tunlan Investment and local government. Li Xiaolai, who is best known as the first Bitcoin Billionaire China, was the most prominent figure among those who were present. In June 2017, Li Xiaolai once mocked that the funniest idea he heard recently was the so-called “blockchain industrial park”. Now things have changed. Li Xiaolai is personally involved in the blockchain industrial park.

The reason why Li Xiaolai is willing to contradict himself is that he has close relationship with Zhejiang Grand Shores Global Blockchain Innovation Fund. The fund was jointly raised by the Yuhang District Government, the Future Science and Technology City Management Committee and Hangzhou Haoyu Investment Management Co., Ltd. The total fund size was 10 billion yuan. The well-known investor Xu Xiaoping served as fund advisor and Bitcoin celebrities Li Xiaolai and Lao Mao are the management members of the fund. The Grand Shores Fund is said to raise 10 billion RMB, 30% of which comes from government. The endorsement from authority surely relieve regulatory pressure.

In fact, just three days after Li Xiaolai showed up in Hangzhou, a blockchain summit (almost all similar meetings were called national or global summits) held in Shanghai was called off urgently due to investor losses caused by the organizers.

“Now the blockchain madness is no less than the P2P chaos a few years ago. All sorts of scammers are cheating in the name of blockchain. Many ICO schemes are disguised as “blockchain projects”. For example, common anti-counterfeiting technology projects also promotes blockchain to get funding. ”
Guo Tao, the well-known Internet expert, said. He believes that:

“As one of the next-generation protocols for global credit certification and value Internet infrastructure protocols, blockchain is attracting attention from high authorities. But it is necessary to tell the unreliable and even pyramid schemes.”

Hangzhou is not alone in setting up blockchain industrial parks. Beijing, Jiangxi, Jiangxi and Chongqing are quite enthusiastic as well.
The earlier example of blockchain industrial park was set up in Shanghai on November 18, 2016. The blockchain industrial base was set up in the Shanghai Intellectual Property Park jointly by the Shanghai Collaborative Innovation Center, Zhongguancun Blockchain Industry Alliance and Shanghai Intellectual Property Park.
In May 2017, China Electronic Technology Standardization Institute, People’s Government of Xiaoshan District in Hanghzou and China Wanxiang Group formally signed a contract to jointly promote the construction of China (Xiaoshan) Blockchain Venture Innovation Base. The slogan was that “ to build the first blockchain venture innovation base in China”.

In June 2017, the Blockchain Industry Development Committee in Nanchang, Jiangxi was jointly initiated by the Management Committees of Ganjiang New District, Dacheng Fund and Boneng Holdings. The initiative includes establishment of a blockchain fund, construction and operation of a blockchain industrial parks etc.

In November 2017, Chongqing’s blockchain industry innovation base was established. According to the plan, by 2020, Chongqing will build 2 to 5 blockchain industrial bases, and incubate more than 50 blockchain companies with more than 10 leading companies, introduce and cultivate more than 500 senior blockchain talents.

A “Blockchain+” innovation base is proposed by the North District of Qingdao City, Shandong Province. The industrial park aims to gather talents and resources in the blockchain industry by incubating more than 20 blockchain companies, accelerating the construction of blockchain innovation centers.

In the business plan of blockchain industrial park in Yining City, Xinjiang, the project will host 100,000 sets of mining machine after completion, which will be used to mine bitcoin mostly and other cryptocurrencies. The site will be equipped with dual 24-hour uninterrupted power supply and modern management system. However, with the restrictions on bitcoin mining in the country, the future becomes unpredictable.

Being the most proactive believer of blockchain technology, Hangzhou now hosts 3 relevant blockchain industrial parks.

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