The OKCoin cryptocurrency exchange operator, OK Group, intends to invest $ 140 million in the distribution of the blockchain in China, The Block writes.
The group will open an Asia-Pacific Innovation Development Center, which will be located in the Chinese province of Hainan, and will partner with local authorities to support the blockchain ecosystem.
Hainan has established the solid foundation for innovation industries, and with the [accelerated] development of blockchain technology, OK Group is really glad to achieve this cooperation. OK Group will make full use of the Asia Pacific Innovation Center to support the innovation and entrepreneurship in the blockchain industry via selecting the potential projects, cultivating industry talents, and incubating the blockchain star-ups.
Founder, OK Group
The innovation center will include a unit for researching data on the blockchain and an international database of entrepreneurs in the field of distributed registry technology, the group said. She also promised that she would focus on the development of practical solutions on the blockchain in order to accelerate their distribution. The main areas of work were named education, employment, healthcare and food safety.