In 2019 China’s total investments in blockchain dropped 40%

by in Blockchain News

Chinese blockchain investments

The newest investigation shows blockchain spending in spheres of investment and funding ventures has lost the upper 40% in China during the last year.

China had 245 funding and investment ventures in 2019 altogether, which is almost 60% less than in 2018.

China's government held a study with business data platform Rhino Data and media company Xinhua. The results of this research indicate that the cumulative volume of the investments in blockchain reached $3.6 billion 24.4 billion Chinese yuan). Results were published on January 15, and they show that investments fell 40.8% in 2019 as opposed to 2018.

Related: Xi Jinping wants China to be a leader in the blockchain

Still, the statement mentions that the cost and amount of investments drastically expanded since 2017.

These numbers are surprising as, in October 2019, the leader of China called the nation to promote the blockchain appropriation process.