The Formal Establishment of BLOCK’s Partner: RedBlock Inc. in China!
We have some very exciting news coming to you from our partners at RedBlock Inc. They have just announced that they are now established in Shenzhen, China!
Read on for the full press release:
It is with great pleasure and much pride that we announce the formal establishment of RedBlock Inc. in Shenzhen, China!
That’s right. We at RedBlock can now officially call the city of Shenzhen our home. Although we are a global company, we took great care when choosing where we wanted to establish ourselves, so we want to give a bit of background to this amazing city and what makes it the perfect place for RedBlock.
A trailblazing city, it comes as no surprise that Shenzhen is taking the lead when it comes to fintech, having had the distinction of being the test city for the Chinese digital yuan, with an official digital yuan app available and fintech innovation platform in the works.
Since President Xi Jinping came out in support of blockchain technology in 2019, blockchain-related stocks have gained substantial momentum, as indicated by the growth of the SZSE (Shenzhen Stock Exchange) Blockchain 50 Index’s trading volume (from bitcoin.com).
President Xi has also said that blockchain capabilities need to be expanded and improved upon, citing their applications towards industries such as smart cities, transportation, energy and food safety, to name a few. (from ledgerinsights.com)
Shenzhen received praise from President Xi when he visited the city in October for the celebration of the 40th anniversary of its designation as a Special Economic Zone. Shenzhen's development, trailblazing, and subsequent reception of praise is all due to, and will benefit from, its inclusion in the plan to make the Guangdong-Hong Kong-Macau Greater Bay Area a hub for technology and finance.
And this plan is not a forthcoming one. Earlier this year, China Guangfa Bank launched its successful pilot payment settlement system built on the blockchain for the purpose of lowering economic borders. And they are not alone, either, as the People’s Bank of China is also developing its own blockchain-based trading platform, joining China Construction Bank as it rolls out the second version of its own blockchain platform. With Shenzhen’s backdrop of blockchain application development, we are perfectly positioned, especially considering our strong presence in the APAC region.
All of this makes the team here at RedBlock proud to call Shenzhen, a city thriving with innovation and possibility, our home. We believe that blockchain technology can be leveraged to improve the investing and capital raising processes, thus bringing greater speed to the development of a myriad of industries and infrastructures.
We are committed to being a leader in blockchain technology’s story of increasing efficiency and lowering the barrier-of-entry when it comes to global capital markets. So, what better place to do that than in Shenzhen?
Based on a deep understanding of the industry, we focus on market trends and industry development to provide the most reliable digital solutions for enterprise operation management, liquidity management, information management and asset management. With our unique R&D technology platform, KYC verification system and multi-role asset management system, we provide customers from all over the world with cutting-edge technology support, complete operational records and financial technology access via our proprietary, one-stop digital asset management platform, RedLedgers.