The “Guangdong, Hong Kong and Macao Dawan District Blockchain Alliance” has been established to promote synergy and innovation and together promote the event of the blockchain technology, China News, the official state-run press association, reported November. 9.

The recently established alliance — initiated by the Guangzhou town Blockchain business Association, the Hong Kong Blockchain business Association, and therefore the Macao University Innovation Center — involves 54 totally different firms and covers blockchain technology in such areas as funds, finances, and trading. The headquarter of the coalition are going to be placed in Guangzhou Development Zone, one amongst the primary national economic development zones in China.

According to the article, the alliance will be developing four blockchain platforms, explaining:

“The alliance can promote the blockchain general development platform, blockchain ‘double creation’ platform, blockchain technology innovation platform and blockchain business service platform based on the key application fields and directions of the event of blockchain business in Guangdong, Hong Kong and Macao.”

The Hong Kong Blockchain business Association will be liable for blockchain development within the sectors of trading, finance, exchanges, and insurance, whereas the Innovation Center of the University of Macao can develop blockchain tech implementation within the areas of education, health, tourism, and logistics.

TopMarketGroup had reported on the creation of a brand new trade and finance blockchain platform, titled the “Guangdong, Hong Kong and Macao Dawan District Trade Finance Blockchain Platform,” that's backed by the national central bank, the People's Bank of China (PBoC).

Previously this fall, the Chinese central bank formally launched the testing part of the “Bay area Trade Finance Blockchain Platform” aimed toward conducting trade activities, like assets and trade finance, TopMarketGroup had reported.

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