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Hunan is China’s First Official Blockchain Zone

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China, February 27 – The central Chinese province of Hunan has approved the establishment of the Hunan Province Blockchain Industrial Park (娄底万宝) in the city of Loudi (娄底). It is estimated that more than 20 blockchain industrial parks in China have been put into operation, but the Hunan Province Blockchain Industrial Park established in Loudi was the first one to be approved by a government agency.

According to China’s 2019 blockchain zone development evaluation report, Luodi ranks at 17 among domestic blockchain zones. The province has preliminarily plans to build three major blockchain zones: blockchain industrial parks in Wanbao’s new district of Loudi city, and other special zones in Jingkai district and Gaoxing district in the city of Changsha.

As one of the first companies settling in Loudi City Blockchain Industrial Park, Defang Technology is also a key company to promote the development of Loudi City’s blockchain industry.

In May 2019, Defang Technology reached a strategic cooperation with Loudi City Government, Loudi SDIC, and Wanbao New District. Both parties collaborate in the blockchain and urban finance in a bid to transform SME financing from asset mortgage-dependence to data-dependence through fintech.

They helped in the establishment of Loudi Blockchain Industrial Park by helping SMEs overcome their financial hurdle, in turn building a new urban financial ecology.

There are currently a total of 788 blockchain enterprises established in Hunan, ranking the front in the country.

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