White paper on blockchain technology has been released in China

Beijing. May 23. Silkroadnews - A complete industrial chain for the blockchain sector has emerged in China with hundreds of companies adopting the technology, according to an official white paper, China Plus reports.
By the end of March 2018, there were 456 block-chain companies in the country that formed a complete industrial chain, including equipment manufacturing, platform provision, security services, industrial technologies, investment and financing, media and personnel services, the white paper says released by the Ministry of Industry and Information Technology.
“The industry is developing rapidly with more and more entrepreneurs and capital entering the market,” the document reads.
Reportedly, the year 2017 was the peak of the development of the industry, in which 178 new companies have been set as a result of the rapid popularization of technology.
Almost 100 investment agreements were made in 2017, which is the biggest number for the recent years. In the first quarter of 2018, the number of investment transactions has already reached 68.
The white paper states the industry is still in its nascent stage, expecting it to reach a peak in 2018.
Blockchain is a digital ledger system that uses sophisticated cryptographic techniques to create a permanent, unchangeable and transparent record of exchanges to trace each transaction, the publication says.