Binance forges China supply-chain partnership

Binance’s new blockchain research institute in China has forged a strategic partnership with a state-level supply-chain innovator to jointly develop digital infrastructure for small and medium enterprises (SMEs) in the country, Cointelegraph reported.  

Announced July 3, the institute’s new partner is Zhongshang Beidon; a state-level enterprise for supply-chain innovation that ultimately falls under the oversight of a ministerial-level organization known as the State-Owned Assets Supervision and Administration Commission of the State Council (SASAC).

SASAC is under the direct management of China’s State Council, and is responsible for managing all 96 centrally administered state-owned enterprises in the country. 

As strategic partners, the Binance China Blockchain Institute and Zhongshang Beidou will cooperate on using blockchain technology to reconstruct supply-chain infrastructure as well as promoting industrial innovation and the development of China’s digital economy. 

They will collaborate on scientific research, joint project development and commercializing technological breakthroughs and platform construction. 

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