This is especially true if they can use this with investors to do a round of funding. At one time, China was home to nearly 35,000 blockchain companies, according to publicly available corporate registration data. Of course, many businesses have jumped in by adding blockchain to their name to gain access to development grants as well as open fraud. That number, according to the SCMP report, has dwindled to about 1,800, so the herd is thinned.
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