Every fourth startup in Asia is related to blockchain technologies

According to a study conducted by KPMG and HSBC, more than 25% of startups in the Asia-Pacific region operate in the blockchain industry.

According to the survey of representatives of 6472 companies in the region, the most popular field among startups is non-fungible tokens, followed by decentralized finance. The third most popular is the infrastructure for the production of electric vehicles, robotic equipment, and the creation of quantum computing systems.

The researchers emphasized that China leads in terms of the number of technology startups — 32.8% are registered in China. There are also many similar firms in India — 30.1%. Japan and Australia are in third and fourth place with 12.7% and 8.7% respectively.

Despite the popularity of blockchain startups, China is trying to limit the use of cryptocurrencies. Thus, WeChat, the most popular messaging and calling application in China,will ban any mention of cryptocurrencies, including advertising of digital assets. The platform will also not allow the creation of new accounts or use of existing accounts with words related to cryptocurrencies and finance in their names unless the company or person has a legal basis for doing so.