Cryptocurrency

Binance is associated with Zhongshang Beidou

Binance continues to move forward in your growth, through an important alliance with the other companies. In this case, the association occurred between the Binance China Blockchain Institute and Zhongshang Beidou. Click here for all the details.

In the first place, the Binance China Blockchain Institute is the research institute that is part of Binance. For its part, Zhongshang Beidou Supply Chain Management Group is a company statewide model for innovation and implementation of the supply chain established by China.

Specifically, Zhongshang Beidou works with the Center of Development of Construction of Commercial Networks under the Commission for the Supervision and Administration of Property Assets of the State of the State Council (SASAC).

What have you been doing the “Binance China Blockchain Institute”?

Through the partnership, the two companies will work together to promote innovation and the application of Blockchain in the supply chain. The goal is to develop a new digital infrastructure and support to small and medium-sized enterprises in China.

An interesting fact is that Binance China Blockchain Institute joined the Global Compact of the United Nations (UNGC) on June 16, 2020, with the goal of facilitating the “Initiative ” Belt and Road” of China and to promote sustainable development.

In this initiative, China has an important role, since they are including 15 business leaders, and institutional partners of this country. For example, the China Development Bank, Sinopec, among others.

Also, the Binance China Blockchain Institute launched the “Project Spark: new Digital Infrastructure – a Hundred Cities, a Thousand Companies.” The idea is to invest RMB 100 million in more than 1,000 companies, medium-sized, small and micro in the next 2 years.

What Binance provided to these companies is access to their digital ecosystem, build a covenant with them, since the industry Blockchain and helps to boost their digital transformation.

In this way, Zhongshang Beidou joined the Project Spark to boost the research and development of technology Blockchain. In addition, research on industrial innovation through the integration of industry, education, research, and execution.

“The potential of the technology Blockchain will be released in full when we continue to develop the technology, applying it to the industries and fostering the talents Blockchain”. This was what he said Mai Lu, vice president of Binance for Asia and the Pacific.

What is the main advantage of this association?

First, the two companies will establish deeper cooperation in a variety of areas. These include scientific research and development, commercialization of technological achievements and construction of platforms, etc

The idea is to establish a model of strategic cooperation and sustainable that will integrate industry, education, research and the implementation of the benefits of technology blockchain in the industrial development of China.

Ultimately seeking to promote the reconstruction of the infrastructure of the supply chain with the technology Blockchain. In turn, wish to contribute to the development of the digital economy in China.

With the alliance between Binance and Zhongshang Beidou, it would encourage even more the use of technology blockchain on a large scale. Source: Bit Life Media

Final comments

By joining forces with Zhongshang Beidou, a business exemplary innovation of the supply chain, the Binance China Blockchain Institute will continue to promote the acceleration and development of the digital transformation in China.

“We share the vision to develop the digital economy and increase domestic demand in China,“ said the president of Zhongshang Beidou, Hongtao Duan. “By applying the technology blockchain to the industry of the supply chain, will also help to protect and reshape the brands vintage and agriculture in China”, he added.

So, in summary, this partnership seems to be promising not only for the economic future of China, but for the expansion of industry Blockchain in general. Binance is standing firm with its mission and vision as a company, and China seems to be aware of the potential that it has.

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About the author

Belinda Carey

Belinda Carey

A finance girl by education, Belinda has been drawn to cryptocurrencies ever since Bitcoin first emerged in the 2009. Nearly a decade later, Belinda is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies.

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