Half of Top 50 Chinese Internet Enterprises are Amateurs in Blockchain

Among the top 50 Chinese Internet enterprises in 2019, 26 of which have entered blockchain area, accounting for 52%, which means that 48% of the top 50 have not entered.

Most of the blockchain-engaged Internet enterprises are promoting the development and application of blockchain technology, accounting for 75%; Among the top 10 Internet enterprises, only Meituan and ByteDance have not yet promoted the practice of blockchain. It can be seen that the Chinese Internet giants are striving to promote the development of blockchain.

There are 16 enterprises participating in industry application practice, 13 enterprises engaging in technology development, only 6 enterprises engaging in infrastructure construction, and 6 enterprises belonging to ecological service and research fields.

Giants are committed themselves to infrastructure construction

The construction of blockchain infrastructure requires technical strength and forward-looking technology development. Internet giants like Xunlei, 360 with excellent technical strength can make use of their own advantages to better the construction of blockchain infrastructure.

Blockchain application of Chinese Internet enterprises covers a wide range of fields, including traceability, public welfare, medical. But games, crypto mining and social are the mainstream.

A few months ago, Weibo, China’s equivalent of Twitter launched a new social media platform dubbed Lvzhou (literally meaning Oasis) with some blockchain features, which has drawn much attention from the crypto community in the country these days.

In October 2018, People’s Daily Online, a state-owned media officially established the blockchain channel to provide professional information about blockchain.

Last month, the founder of ‘Meituan’, a Chinese Internet giant took a photo with Ethereum’ founder Vitalik in a blockchain summit held in Beijing, China. The photo prompts speculation that whether ‘Meituan’ wants to take on the blockchain world.

In fact, these 24 blockchain “amateurs” are also more or less related to the blockchain field, Chinese Internet giants like Alibaba, Huawei, Tencent have focused on blockchain area. Alibaba’s Ant Financial has invested in QEDIT, a blockchain project. Tencent and Huawei-backed coinless consortium blockchain takes aim at hyperledger fabric. Many major high-tech players in China has launched their own Blockchain-as-a-Service (BaaS) solution. At present, more and more Chinese Internet enterprises are trying to get involved in the blockchain field. Blockchain seems to be a must for Internet companies in China.

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