Wanxiang Group set up Chainbase Accelerator to further develop blockchain technology
Feb.22th represents the opening ceremony of Chainbase Accelerator. It’s reported that Shanghai Wanxiang Blockchain Inc. was already established earlier this year. This Hongkou district-based company aims to integrate industrial resources in blockchain with a registered capital of RMB 100milion. The new company is going to integrate such sectors as innovation consulting, Chainbase Accelerator and Wancloud to help accelerate the launching of promising blockchain projects. Xiao Feng, founder of Wanxiang Blockchain Labs, will work as the president and general manager of the new company.
Wanxiang Blockchain Labs is one of the earliest and a leading blockchain technology developer in China. It has been working with other industrial players to foster further development of blockchain technology.
Wanxiang Blockchain Labs has grown into a top Chinese research institution with world-class R&D capacity.
Du Yu, director of Wanxiang Blockchain Labs, pointed out that Wanxiang Group set up the company as a way of building competitive advantage to help more start-up blockchain projects.
Noticeably, since the beginning of 2017, a growing number of blockchain projects have been launched. Hainan Airlines and Wanda Group are working to get a piece of the action.
At present, blockchain technology has reached a turning point from R&D to practical use.
Though many projects have been launched, we still have a long way to go.
“We believe that Wanxiang group is the right one to put blockchain technology into practical use,”said Du Yu.
Four start-up teams of Chainbase Accelerator(Yuanben, Bianjiezhineng, Mocheng, Duolingaibi) made their debut during the opening ceremony, covering copyright authentication, exchanges, smart healthcare, game, smart lock and home rental services. Together they are embarking on a three-month journey to accelerate their projects.