IOTA’s Director of Engineering Will Attend Blockchain Event Organized by Chinese Government

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Iota cryptocurrency physical coin placed on the metal surface with holes

The 2018 Blockchain New Economy Hangzhou Summit, to be organized on 19th and 20th November, will be one of the most prominent blockchain events on Chinese mainland this year.

The IOTA Foundation announced that its Director of Engineering, Edward Greve will be attending the summit, as a representative of the distributed ledger designed for the Internet of Things and beyond. His presence during the summit could open the gates of opportunity for IOTA in China.

IOTA Announces News on Twitter

The IOTA Foundation announced on its Twitter page that Greve would be attending the summit. It wrote:

“IOTA Foundation’s Director of Engineering, Edward Greve, will be participating at the 2018 Blockchain New Economy Hangzhou Summit organized by the Chinese government (19-20th Nov)”

The Chinese authorities, who have effectively choked the entire cryptocurrency industry in the mainland, have quickly separated cryptographic assets from blockchains, embracing the latter openly. China has not only big money but also some of the biggest startups in the blockchain and crypto industry.

Chinese President Endorsed Blockchains Too!

The Chinese president, Xi Jinping in May, praised blockchains calling it:

“A new generation of technology represented by artificial intelligence, quantum information, mobile communications, internet of things and blockchain is accelerating breakthrough applications.”

China’s footprint in blockchain is growing rapidly. The country is still the home for most of Bitcoin’s hashing power, despite dragging out several miners and shutting down trading activities.

In March, it was reported that China leads the world in the number of patent applications related to the blockchain. According to data from Thomson Reuters via the World Intellectual Property Organization (WIPO), the country filed about half of the 406 blockchain related patent applications in 2017.

More recently, Chinese companies occupied 57 of the 100 spots in the latest Top 100 Blockchain Enterprise Patent Rankings list. The only other country to feature prominently in the list is the US, but the numbers are in favor of the Asian giant.

According to the list, Alibaba, the Chinese e-commerce giant has 90 patent applications and holds the number 1 spot. The People’s Bank of China ranks 5th with 44 applications. Other prominent names from the country are – Tencent with 40 patents, Bitmain with 26 patents and State Grid Corporation of China with 23 patents.

IOTA’s Director of Engineering Will Attend Blockchain Event Organized by Chinese Government was originally found on [blokt] – Blockchain, Bitcoin & copy trading cryptocurrency.