PwC and BitSE partner to accelerate blockchain adoption in China and Hong Kong

PwC recently announced that it will work with BitSE to accelerate the application of blockchain in mainland China and Hong Kong. BitSE is a Shanghai-based startup founded by former IBM employees Louis Vuitton and Alibaba employees, and is one of the leaders in the Blockchain as a Service (BaaS) model. Of course, PwC is well-known as one of the world's leading consulting service companies.

Slow adoption While blockchain has received a lot of attention in the United States and Europe, Asia has been even slower to adopt the technology. Clearly, a lot of attention won’t speed up blockchain adoption.

Shuai Chu, CTO of BitSE, said: “Although the market acceptance and research speed of blockchain in China are slower than those in Western countries, we believe that through cooperation with PwC, we can accelerate the research and application of blockchain in the Chinese and Hong Kong markets.”

The market is huge It is clear that the Chinese and Hong Kong markets are huge. From healthcare to financial clearing, many large companies are actively exploring blockchain technology. With PwC's market connectivity and resources, and BitSE's blockchain knowledge, this collaboration will be fruitful. However, at this stage, this collaboration is still exploratory in nature.

According to both parties, the collaboration already has some customers, and it will be interesting to see how many customers formally adopt the technology.