Binance Come Back to China to promote Blockchain Technology

By
Tokeneo
-
3 min reading

One of the most popular cryptocurrency exchanges, Binance, is returning to the Chinese market after China introduced a ban on cryptocurrencies trading in 2017. However, Binance's target this time is returning to China for another purpose. The company will develop and promote blockchain technology.

blockchain china

New "Binance China"

The media yesterday announced that Binance launched its new website on the Chinese domain "Binance.cn" registered on Shanghai Benais Information Technology Co. Ltd. name.

Shanghai Benais was established on February 25th and its sole shareholder is He Junxi, who also owns "Shanghai Bonesh Information Technology Co., Ltd. and has investments in "Shenzhen Bernansi Technology Development Co., Ltd.,”

Apparently, the names of these companies in Chinese sound similar to the word Binance.

Promoting Blockchain Development

Binance in China will focus on promoting the implementation of blockchain technology. The home page of the Chinese version of  shows that Binance China is the main creator of blockchain ecosystems in the industry

According to the head of PR, this website was established for the Lingang Blockchain Technology and Industry Research Institute project, which was launched in March.

Lingang Research Institute wants to create breakthrough solutions in blockchain technology and integrate it with artificial intelligence, large data, IoT and other modern technologies.

The Institute will provide funding for research, while supporting talent within block chains and providing professional development courses, technical and skills training for businesses and consultancy services

The Institute will provide funding for research, but will also support blockchain talents by giving opportunities for professional development by providing training and consultancy services to businesses.

China more interested in blockchain

Binance's return to China under the blockchain approach is a seemingly wise move on the company's part, given that the country is more open to adopting blockchain technology than digital currencies. 

In October 2019, China's President, Xi Jinping, called on the country to increase the use of blockchains as this technology plays "a key role in technological innovation and industrial revolution".

After the President's approval, China revealed that country would increase its investment in blockchains by over $2 billion in 2023.

Waluta Kurs Dokonaj zakupu

Dear customer,

We use cookies to provide our services correctly and safely. Cookies are small text-based data sets that shall be saved on the device you are using in connection with the use of this instnat website. Cookies are created in order to ensure proper functioning of thes instant website. By clicking the button "I accept and go to the website", you implicitly agree to creation of the cookies on your computer and to deploy automatic tracking and data collection and processing on behalf of the Tokeneo TEO OU. Click the above-captioned button is also tantamount to accepting website's privacy policy. Closing the notification by means of "X" is unequivocally connected with your consent. If you do not agree to any of the above, please discontinue using our Website.

“Cookies” shall make an identification of the software used by you and to customization of this instant website to your needs. Cookies contain the name of the domain from which they origin, duration of period of their storage on your computer and an assigned value.

Third party cookies:
We also use third-party cookies for the following purposes:

  • creating statistics - helping to understand the way Users use the Website, which allows to improve its structure and content with use of the analytical tools
  • defining a user profile - in order to display custom-tailored content in advertising networks.

External entities that might be source of any third-party cookies on this instant Website are as follows:

Using a settings of your web browser or by using pre-set configuration tools available in our service you can independently and at any time change the settings concerning your use of the “cookies”, specifying the conditionsof their storage and how your device is creating and downloading them. These settings can be changed to block the automatic handling of cookies in the settings of your web browser or inform about their placement on your device each time.

Detailed information about the options related to use of “cookies” is available in the settings of your software (web browser).

Service privacy policy

This instant document lays out the principles of the Privacy Policy on the tokeneo.com/news/pl website (hereinafter referred to as the "Website" or "Service"). The administrator of the Website is TOKENEO TEO OÜ (an Estonian law limited liability company) with its registered offices in Tallinn (in the province of Harju Maakond), at 19-7K Maakri Street (in the district of Kesklinna Iinnaosa), 10-145 Tallinn, Estonia, registered on 21.12.2018 in the Estonian Business Register under number 14630242, using the EU VAT number: EE102149487.

The full document to read the Tokeneo privacy policy is available in this document.

Advanced settings can be changed in your browser.