Canaan Creative ASIC Producer to Hold an IPO

According to the data released in January, Canaan Creative's annual profit was 410 million yuan ($ 64 million), which is 600% more than the profit for 2016
10 May 2018   679

The second largest Chinese producer of bitcoin mining equipment Canaan Creative intends to hold an initial public offering (IPO) on the Hong Kong Stock Exchange. The company is going to raise $ 1 billion, South China Morning Post reports.

According to the publication, the final decision regarding the listing on the Hong Kong stock exchange has not yet been made.

In 2016 and 2017, Canaan Creative, based in Hangzhou, planned to conduct an IPO on the Chinese market, but could not do so because of regulatory barriers. It is also known that previously, as an alternative, Canaan considered American sites. Now, it can become the first blockchain company that went to the Hong Kong stock market.

According to the data released in January, Canaan Creative's annual profit was 410 million yuan ($ 64 million), which is 600% more than the profit for 2016.

South Korea to Allocate $880M for Tech Including DLT

The goal is to "focus on promoting big data and AI, developing blockchain technology to ensure data management security and boosting the sharing economy"
16 August 2018   128

In 2019, the government of South Korea plans to invest more than $ 880 million in accelerating the development of innovative technologies, such as blockchain, CoinDesk reports.

Deputy Prime Minister Kim Dong Yeon held a ministerial meeting to work out an investment plan for the government to develop innovations for the next five years.

According to the website of the Ministry of Economy and Finance of South Korea, the government allocated 1 trillion won (about 880 million dollars) - 80% more than in 2018 - for the development of technologies like blockchaain, big data and AI in 2019. In addition, the agency said that in the next 5 year total investments of 8-9 billion dollars are planed.

The goal is to "focus on promoting big data and AI, developing blockchain technology to ensure data management security and boosting the sharing economy," the press release said.

The investment plan does not specify how much money will be invested in each of these areas separately. There's no info wether it will be allocated to mining facilities.

Earlier, the Ministry of Information and Communication Technology of South Korea reported that in 2019 will allocate $ 9 million to invest in blockchain start-ups. In addition, in June it became known that the same ministry was cooperating with other state agencies on the development of six pilot programs, within which the block would be used in large government services.