Despite China’s frosty relationship with the cryptocurrency space, businesses in the country are increasingly embracing the underlying technology in the industry.

In particular, blockchain has emerged as the fifth most preferred technology among leading Chinese fintechs, with a share of 33% as of 2022, according to a study by KPMG.

The technology emerged behind big data, which has a share of 76%, followed by artificial intelligence at 68%, while cloud computing is third, accounting for 41%. The knowledge graph ranks fourth at 34%. Interestingly, blockchain ranked higher than 5G and robot processing automation.

(By Paul L.)