According to the press release from China News, the official state press agency, a new blockchain alliance has been formed in the country.

Called Guangdong, Hong Kong and Macao Dawan District Blockchain Alliance, its goals are clear and simple: “promote innovation and further development of the blockchain technology.”

Currently the Alliance involves 54 different companies working in the field of blockchain, and specializing mainly in the financial industry, including funds, finances, and trading. The headquarters of the coalition are located in Guangzhou Development Zone, one of the first national economic development zones in China.

As stated in the press release, the Alliance will start with creation of four major financial blockchain platforms:

“The alliance will promote the blockchain general development platform, blockchain ‘double creation’ platform, blockchain technology innovation platform and blockchain industry service platform based on the key application fields and directions of the development of blockchain industry in Guangdong, Hong Kong and Macao.”

The Hong Kong Blockchain Industry Association will be overseeing blockchain development in the financial, trading, insurance sectors, as well as on crypto exchanges, while the Innovation Center of the University of Macau will focus on developing blockchain tech implementation in the areas of education, health, tourism and logistics, further establishing the presence of the blockchain technology in all areas of life in the country.