By 2020, more than 10,000 new blockchain companies will be established in China.

According to the latest news from blockchain media platform LongHash, despite the impact of the new virus this year, blockchain companies in China have experienced significant growth and will be demolished with new data for the year 2020.

According to the latest news from blockchain media platform LongHash, despite the impact of the new virus this year, a number of blockchain companies in China have experienced significant continued growth and are expected to break new records by 2020.

Blockchain and crypto-data platform LongHash tweeted on August 8 that despite yet another crown pandemic later this year, China's blockchain industry is still experiencing significant growth. According to the report, more than 10,000 blockchain companies were established in China in January and July.

The report also shows that the current number of Chinese blockchain-related industries is expected to exceed the total by 2017.LongHash said it could peak at any time in 2020, out of a total of 18,500 in 2018.

According to the data, there are 84,410 registered companies, of which 29,340 are operating.Guangdong, in eastern China, has the most blockchain startups, and Yunnan, in western China, ranks second.

However, most blockchain companies are able to register very little. According to the report, the maximum registered capital is 5,000 yuan (about $ 717). At the same time, only a few companies with registered capital of 50,000 yuan (about $ 7,175) or more.

As previously reported, the Chinese government is expanding the development of the blockchain industry to provide better government services. China's financial institution has also raised $ 4.7 million to build a blockchain trading platform over the next three years. China has approved 224 blockchain projects from large companies such as JD.com, Walmart, China, and Baidu.