Future Fintech Group, a Florida based enterprise engaged in the field of financial and technological development, announced on July 26, 2018, the formation of a wholly owned subsidiary, dubbed China Future Digital Fintech Ltd. This Beijing-based subsidiary will help foster FTFT’s accelerator “Chain World Cyberspace” and tap into blockchain’s potential in the betterment of public administration services, among other things.
Ecosystem Attracts More Companies
As per the press release, the Chairman and CEO of Future FinTech, Yongke Xue said that the primary reason the firm chose Beijing as the cornerstone for Chain World Cyberspace is due to its unique startup-friendly ecosystem. As the political, economic, and cultural mecca of China, many blockchain companies have turned to Beijing to start their business.
He also mentioned that four projects have already joined in the first phase of the accelerator in Beijing. The services planned to be offered through Chain World Cyberspace include common working space in central business districts, enhanced efficiency in public administration, media consulting, and easy accessibility to a global network of blockchain accelerators.
“In addition, we are planning a series of value-added services including Blockchain Infrastructure Support, Blockchain Technology Training, financial advisory services, and assistance on Digital Asset Marketing,” said Mr. Yongke Xue.
Jumping onto the Blockchain Bandwagon
Seeing the humongous potential in blockchain technology in the fields of public administration, healthcare, supply chain management, real estate, banking, and other financial services, countries have been embracing the innovation left and right.
While some countries might not have been as receptive of cryptocurrencies, the underlying technology on which the crypto tokens are traded has seen more favorable responses from governments all over the world.
Asian countries like India, China, Japan, and Korea have already started making progress on incorporating blockchain into the daily routine activities. Blockchain also provides some tremendous advantages to small businesses, which will potentially help shape up the nation’s economy in a better way.
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