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Quasi-Blockchain Unicorn Yunphant to Empower Digital Economy with New Fundings
COVID-19 and China
Blockchain, Image credit: TheDigitalArtist/Pixabay

Founded in 2014, Yunphant Blockchain (云象区块链) has announced a new capital injection from Zhejiang Yongxi Asset Management with tens of millions of CNY. Previously, the company has closed multiple rounds of financing from Shenzhen Capital Group, WI Harper Groupand Duowei Capital.

At the third Annual Growth Conference held by Hangzhou Municipal People's Government and China Investment Development Promotion Association, Yunphant was shortlisted for the Unicorn & Quasi-Unicorn Enterprises Award 2019.

Yunphant Blockchain is a blockchain infrastructure service provider. Its solutions are widely applied to downstream practices such as notary certification, trade finance, equity transaction, verification and supervision, supply chain finance, asset securitization and so on.

After the new fundraising, Yunphant will increase the diversity of its products, promote the application of blockchain technology in the fintech industry and empower the digital economy.

Blockchain has become a buzzword in recent years; things are moving tremendously fast in the blockchain sector. According to EO Intelligence, the number of blockchain companies in China as of September 2018 is 615. It’s the largest number of blockchain companies in one country.

This chart summarizes the financing activities of blockchain industry from 2015 to 2019. The number of financing events had rapidly increased between 2013 and 2018, then has gone to a precipitous decline. In 2019,The financing events this year so far reached 324. And the total volume has declined from CNY 208.00 billion in 2018 to CNY 62.71 billion in 2019.

In addition to stat-ups, the technology giants such as Alibaba, Baidu and Tencent start to delve into the blockchain technology and explore various application scenarios.

On March 31, 2019, the Cyberspace Administration of China released a list containing 197 approved blockchain service providers, 164 companies were involved.

The list also includes some projects from technology giants, such as Baidu Blockchain Engine, Alibaba Cloud Blockchain-as-a-Service (BaaS), Tencent BaaS (TBaaS) and the BaaS platform owned by e-commerce giant JD.com and so on.

Looking at the future market,  with the increasing attention from government, blockchain scenarios will be fully explored. Blockchain will help to manage increasing global complexity by combining security, decentralization and transparency. And the future business will be distributed.

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