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  • More than 100 blockchain companies have formed the first provincial-level Blockchain Innovation Alliance in China.
  • The Alliance aims to build an open platform for innovation and application of blockchain between joint ventures.
  • A few notable members include Inspur, Tsinghua Unigroup, Huawei, IBM, Tencent, Alibaba and Baidu.

On April 14, China welcomed its first provincial-level Blockchain Innovation Alliance, as per ChinaNews. Over 100 popular enterprises (both foreign and domestic) have joined this Alliance. A few members include Inspur, Tsinghua Unigroup, Huawei, IBM, Tencent, Alibaba and Baidu.

The Alliance, which is located in Yuzhong District, is aimed at building an open platform for blockchain communication, innovation, cooperation and application among joint ventures. Well-known players in China’s communications industry are to join forces with scientific research institutes through this Alliance.

Luo Qingquan, Director of Chongqing Big Data Development Bureau, said:

The establishment of the Alliance in Chongqing, facing the whole country, serving the construction of the “Belt and Road”, and gathering elite enterprises from all walks of life, will certainly play an important role in the development of Chongqing’s blockchain application innovation industry.

The Alliance announced the official launch of a public service blockchain platform dubbed “Yu Express Chain.” This platform is based on Inspur Blockchain Services (IBS) and is expected to work as a blockchain engine and development services provider. 

Zhang Fan, the vice president of the Inspur Group, noted:

“Yu Express Chain” will drive the industry to gather and develop. In the next five years, it will strive to realize the number of core enterprise patent applications of 1,000, serve enterprises and institutions, create 20 in-depth blockchain application scenarios, and drive enterprises to create an output value of 5 billion Renminbi.