China FUD Busting: Hangzhou to Pour $1.6 Billion into Blockchain-Oriented Startups

The positive sentiment towards blockchain-based technology in China continues to surge. Hangzhou, the home city of Alibaba Group Holdings, now hosts a $1.6 billion (RMB10 billion) fund set up to invest in firms using blockchain technology, with 30% of the money coming from the government. Despite the country’s complete crackdown on ICOs, cryptocurrency trading, and mining, it seems that blockchain technology is, indeed, taking the country by a storm. $1.6 Billion Heading Towards Blockchain Companies<br />Read More<br />The post China FUD Busting: Hangzhou to Pour $1.6 Billion into Blockchain-Oriented Startups appeared first on Bitcoinist.com.

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