China’s first blockchain pilot zone officially opened in Haikou, Hainan on Monday, Xinhua reports.

Its site is the Hainan Resort Software Community, which has launched a blockchain research institute in cooperation with Oxford University’s blockchain research center. The software community is also setting up an innovation center in partnership with China’s Renmin University.

The zone’s scope will cover more than research, however. According to the head of Hainan Province’s department of industry and internet technology, Wang Jing, “[the] pilot zone will commit to attracting blockchain talent around the world and exploring the application of blockchain in areas such as cross-border trade, inclusive finance, and credit rating.”

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Bailey Hu

Bailey Hu is based in China’s hardware capital, Shenzhen. Her interests include local maker culture, grassroots innovation and how tech shapes society, as well as vice versa.