Chinese County Creates Startup Blockchain Company For Its Forestry Industry

A region in China’s northern Sichuan region has signed a vital collaboration contract to build up another blockchain organization for them to build up the forestry industry, local news outlet China Net announced August 24.

The Beichuan Qiang Autonomous County of Sichuan Province and Beijing Sinfotek Group have together settled another organization, Hangzhou Yi Shu Blockchain Technology Co., Ltd for “forestry economic development and industrial poverty alleviation.”

The parties signed the participation contract in Hangzhou, Zhejiang Province, on August 19, China Net reports.

The recently founded organization is supposedly one of the 19 blockchain organizations to have passed the first bunch of 700 project presentations in the Hangzhou Blockchain Industrial Park. The organization expects to apply blockchain innovation to cultivating and farming projects. The report states:

“[The company’s strategy] will be closely integrated with the national development strategy, and [will] fully promote the application of blockchain technology to realize the parallel development of enterprise value and forestry industry.”

Prior this month the Communist Party of China (CPC) had launched a book on blockchain innovation and its possible applications, as Cointelegraph announced August 13.

A week ago, one of the world’s biggest insurance agency groups, China’s Ping An Insurance, released a “White Paper on Smart Cities,” upholding for blockchain innovation advancement and “promoting the development of ‘smart city.’”