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Guangzhou Government Announces $140 Million Blockchain Subsidy Fund

Ramsey Baker

Summary: In an attempt to encourage the development of blockchain initiatives the Guangzhou government has announced a $140 million subsidy fund. Senior executive at global crypto asset holding company Primitive Ventures, Dovey Wan, tweeted that they were ready to spend $141 million to sponsor two blockchain-related projects per year. The initiative is focusing primarily on federated ...

In an attempt to encourage the development of blockchain initiatives the Guangzhou government has announced a $140 million subsidy fund.

Senior executive at global crypto asset holding company Primitive Ventures, Dovey Wan, tweeted that they were ready to spend $141 million to sponsor two blockchain-related projects per year. The initiative is focusing primarily on federated chain projects and “no-coin” public chains.

By Ramsey Baker

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