Fuzhou City Of China Will Provide Subsidies To Encourage Blockchain Industry
The Fuzhou city of China will provide the rent subsidies to encourage the development in the blockchain industry reported on 11 June 2019.
The main goal is to support the Blockchain enterprises or institutions established in Fuzhou, and they will help to provide an up to 600,000 yuan ($86,800) rent subsidy every year with a maximum of three years of the program.
Traditional companies will receive a 20% subsidy on the basis of their cost for building the blockchain applications that will also attract them to work in this industry.
A reward of up to 600,000 yuan will be given to the projects that win awards for scientific and technological development or deliver transformation in Fuzhou.
The Firm will be awarded 2 million yuan ($289,000) when recognized by Chinese authorities for developing the industrial blockchain platforms, and they will also be awarded 1 million yuan ($144,500) for participating in the high-level meetings such as the discussion of forums at the international, national and provincial levels.
Previously, China’s Recent Crypto Ranking States EOS at the Top spot while the Bitcoin securing 12th place on the basis of three major criteria which were Technology, Application, and best innovation.
