Chinese blockchain delegation visits Sydney

Around 50 Chinese tech leaders visited the Sydney Startup Hub this week to meet with local companies and learn more about the state’s blockchain and FinTech capabilities.

The China Blockchain Development Forum mission was led by Mr Li Ming, director of the China Electronics Standardisation Institute, which has responsibility for Chinese blockchain industry standards.

The visit aimed to stimulate collaboration between Australian and Chinese companies and explore potential investment in NSW.

“NSW is strengthening its blockchain capabilities, supported by research and development, universities and start-up companies with an increasing interest in this area,” said NSW Minister for Trade and Industry, Niall Blair.

“While initial applications of blockchain are primarily focused towards financial and legal sectors, there is great opportunity for it to be used in other areas, including the agricultural industry for issues such as food safety, provenance and biosecurity.”

The World Economic Forum has forecast that 10% of global GDP will be stored on blockchain by 2037.

Pictured: Blockchain delegation being addressed by Minister Niall Blair.

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