The Hainan Province in South China rolled out a series of measures to accelerate the blockchain space’s development, Xinhua reported. The measures will back the industry via technological application, social investment, talent cultivation, and other areas. They are said to be released by the first blockchain pilot zone of China in the Hainan pilot free trade zone (FTZ).
As it stands, the zone has accommodated over 100 blockchain companies and organizations. It is said to be one of the quickest-growing blockchain clusters in the nation. The area is based in an internet industrial park called the Hainan Resort Software Community (RSC). It was rolled out in October 2018 by the provincial department of industry and information technology.
Measures will be taken to use blockchain technology in a variety of uses such as tourism, healthcare, housing and trade with a fund of approximately $142 million or one billion yuan to finance blockchain firms. The community also rolled out a “Secure, Sharing, Compliance+” action plan.
In other news, Microsoft is working with blockchain gaming project Enjin to offer crypto rewards, Coindesk reported. The project is called Azure Heroes, and it rewards community members for positive actions like offering sample code, conducting demos, coaching, making posts regarding Azure, or finishing challenges.
Transactions and issuance of the collectibles will be conducted on the ethereum blockchain, which will let the winners have them as non-fungible tokens (NFTs). The news appears to have brought about a significant boost to the Enjin’s token price per the outlet. The coin had increased more than 44 percent in 24 hours as of the report.
According to a Microsoft webpage, “Microsoft and Enjin have collaborated in a local pilot to create a blockchain based recognition programme. The Azure Heroes badgers were created in a number of original and unique designs which have been tokenised into a digital asset on the Ethereum public blockchain.”