China rates top enterprise blockchain firms

The China University of Political Science and Law published a report after assessing 400 enterprise blockchain projects. The “Chinese Enterprise Blockchain Innovation and Regulatory Index” ranks 21 firms as “AAA” rated. The results were presented yesterday at an online seminar coordinated by Lian Xing Capital.

China’s bigtech firms “BAT” – Baidu, Alibaba and Tencent – all made it onto the list, which was topped by state-owned ICBC, the world’s largest bank and public company, according to Forbes.

Four criteria were used for the assessment: legal risk, innovation, project execution and social attention.

In terms of legal risks, a count of the lawsuits and administrative penalties were assessed. Plus, the number of filings at the Internet Information Office were included.

Innovation was ranked based on patents, trademarks and software copyrights. Additionally, participation in research institutes and laboratories was incorporated.

For project implementation, the quality assessment was more subjective in combination with the number of blockchain services launched.

Social attention was gauged based on news coverage, with negative news weighing against the projects.

The objective is to try to create a quality framework to promote competition and the flow of funds and talent to high-quality projects.

China is already relatively advanced in terms of blockchain applications. We reported earlier this week that a proposal was made for a national blockchain fund and plan. The aim would be not just to grow the range of blockchain applications, but also extend China’s prowess in the more foundational technologies.