SBI is planning to launch a digital stock exchange based on blockchain technology. Image: iStock

The central Chinese province of Hunan has approved the establishment of the Wanbao blockchain zone, according to a local news report. Located in the city of Loudi, it will be the province’s first.

According to China’s 2019 blockchain zone development evaluation report, Luodi ranks at 17 among domestic blockchain zones, Cointelegraph reported.

Luodi’s blockchain zone has already attracted a number of industry-leading enterprises including Shareslink, Hyperchain, Incite Data and Shenzhen Defang Technology.

There are 788 blockchain enterprises established in Hunan, the highest number in the country, according to the report.

The province has preliminary plans to build three major blockchain zones: blockchain industrial parks in Wanbao’s new district of Loudi city, and other special zones in Jingkai district and Gaoxing district in the city of Changsha.

As Cointelegraph reported, Hainan’s blockchain pilot zone received funding of 1 billion yuan ($142 million) from the government.

As blockchain continues to go mainstream in China, long-term investment forecasts estimate blockchain investment will reach $2 billion by 2023.

Blockchain major

Meanwhile, the Ministry of Education of China has just granted Chengdu University of Information Technology (CUIT) approval to offer the country’s first undergraduate blockchain engineering major. Admission and enrollment will start this year, according to a China news agency report.

China’s first blockchain engineering major aims to catch up with ever-changing developments in social economy and social informatization. The major aims to provide training to meet the needs of the blockchain industry, Cointelegraph reported.

The course is designed to equip students with skills in blockchain system design, project management and implementation.

The program will allow future blockchain professionals to gain skills in computer science and technology, basic theory of blockchain technology and blockchain project development methods, according to the report.

Cointelegraph recently reported that in order to fight against the coronavirus, China has turned to blockchain technology to manage medical data, track supply of virus prevention materials and consult the public.

The tax bureau of Beijing also officially announced that it would start implementing blockchain invoicing in the city this month.

In January last year, Cointelegraph also reported that the Food and Drug Administration of Chongqing Yuzhong District was going to apply blockchain to strengthen the supervision of food and drug production.

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