Genesis Capital CEO: Blockchain to Become Critical Competition Chip for Nations
The Finance Forum was held in Tokyo on May 25, 2018, gathering Mizuho Financial Group, SBI Holdings, IMB Japan, Genesis Capital and many other financial blockchain professionals and scholars from all over the world.
Feng Chi, CEO of Genesis Capital, was invited to deliver a speech on the development of the blockchain market in China. “The blockchain is becoming the critical area for international competition,” he said. “The blockchain sets no block to any country. It is a global revolution on productive relations and the blockchain market differs in every country.”
From 2013 when China Central Television reported BitCoin for the first time to 2017 when the blockchain hype emerged in China, China’s blockchain market has undergone ups and downs, creating opportunities and challenges.
According to 2018 China Blockchain Industry Whitepaper published by China’s Ministry of Industry and Information Technology, as of March 2018, there were 456 companies specializing in blockchain businesses. Before 2013, this number was only 31, but in 2016 and 2017 respectively, 136 and 178 new blockchain companies mushroomed, stepping up the development of the blockchain industry in China. These companies fall into several categories, with the financial services being the majority, followed by blockchain solutions, underlying platforms, and blockchain media & communities.
So far, the blockchain technology has been applied in areas such as supply-chain finance, credit investigation, product tracing, copyright trading, digital identity and digital evidence. Genesis Capital specializes in the blockchain industry and is keen to discover the most promising blockchain projects. Genesis Capital is also China’s first digital currency foundation to deploy VC business and post-investment business for promising projects and companies. So far, Genesis Capital has invested in more than 50 blockchain projects including iost, Data, Nebulas, Aelf, Hydro, Beechat, Penta and DeepBrainChain.
Apart from capital investment, Genesis Capital provides premium post-investment management services in project layout, financing docking, team building and branding.