In China there was an increase of 454% in companies with 'Blockchain' in the name, symbolizing how this nation is progressing in becoming the paradise of the Fintech
Citing data from the government of the Chinese channel Qixin, the South China Morning Post reports that, from January 1 to July 16, 3,078 companies based in China submitted applications to include qukualian, the Chinese word for Blockchain, in their names, instead of only 555 in all 2017.
Comparison with the Rest of the World
In contrast to the United States, where only 817 registered signatures include the word " Blockchain " in their names.
In CCN they also compare the phenomenon of the dotcom bubble, when companies added ".com" to their names so that investors would perceive them as fashion technology companies. Valuations soared, but in the end they collapsed as the 20th century gave way to the 21st century.
Among the high profile examples of the US Blockchain industry UU they include Riot Blockchain, a former biotech company, and Long Blockchain, which before its cryptomarca operated under the name Long Island Iced Tea .
Explanation of the Phenomenon
These firms quickly became "proxy actions" for the cryptocurrency market, and their share prices soared in the fourth quarter of 2017 along with the Bitcoin price, as crypto-shy investors tried to gain exposure to the market. flourishing industry.
Long Blockchain, the last facet of the so-called "Blockchain bubble", is now excluded from the Nasdaq Stock Exchange and relegated to the over-the-counter (OTC) market. Meanwhile, the price of its shares has fallen to US $ 0.38 from a high of mid-December above the US $ 9.00 mark.
These differences reflect how innovations with Blockchain are being adopted in an efficient and beneficial way, unlike other countries such as the United States, where resistance is still considerable, causing the contrast between the two countries to be noticeable at first sight.