China Will Develop Forestry Industry With Blockchain

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A strategic cooperation contract was signed between The Beichuan Qiang Autonomous County of Sichuan Province and Beijing Sinfotek Group to develop the forestry industry. A new company, Hangzhou Yi Shu Blockchain Technology Co., was established as a result.

The cooperation contract was signed for “forestry economic development and industrial poverty alleviation.” in Hangzhou, Zhejiang Province, on 19th August.

“[The company’s strategy] will be closely integrated with the national development strategy, and [will] fully promote the application of blockchain technology to realize the parallel development of enterprise value and forestry industry.”

The new company is amongst the first of the first batch of 700 projects in the Hangzhou Blockchain Industrial Park. The first batch consists of 19 blockchain companies accepted within the park.

China’s president Xi Jinping is very optimistic towards the blockchain technology. He expressed his hopes during a meeting with the Chinese Academy of Sciences and the Chinese Academy of Engineering.

Villages of tomorrow

Recently, a Japanese village was the first to launch a regional ICO aimed at gathering funds to create a sustainable region. The ICO was supposed to help the village develop while creating a sustainable community.

 

Will we see more villages and regions cashing in on the cryptocurrency and blockchain technology soon? Share your thoughts in the comments below!

 

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