A report from LongHash.com, a blockchain and crypto statistic website, revealed that there are 714 blockchain and crypto companies registered in China in January alone.
However, out of a total of 79,556 blockchain and crypto-related companies, more than 57,257 companies have not yet been legally certified. Most of them are at risk of being revoked for the license, resulting in only 26,089 companies currently held licenses to operate in China.
From 2009 to 2017, the blockchain and crypto industries have seen slow but steady growth and expansion. Things took turn from 2018 to 2019, since then there has been an explosive growth in number. The rise in prices, changing user behavior, mature and more developed technology, as well as other favorable factors, are seen as the reasons behind the growth.
If the number of new company registrations can keep its pace up and stays as high as January throughout the year, we can forecast that by the end of 2020, there should be at least 8,000 blockchain & cryptocurrency-related new companies.
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