China is dominating blockchain apps

Despite the government stance, the apps are growing in popularity

03.Oct.22 7:48 AM
By Abigail Richards
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China accounts for 84% of blockchain apps worldwide, but only one or five are allowed by the government. In the US and South Korea, 26% and 43% are admitted, respectively. In China, the so-called. ‘permissionless' blockchains register with the Cyberspace Administration of China and hope is being placed on 'permissionless' blockchains with a restriction on who can change the ledger.

The state-backed Blockchain Service Network (BSN) is trying to remove crypto coins from its network. This month, it launched its Spartan Network, which splits off popular blockchains including Ethereum and Polygon Edge and bans fungible tokens used for crypto coins.

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