Over 50 cities across China now have access to 5G with over 80,000 stations providing service to users. In the next five years, China expects the number of subscribers to the top network providers to grow to a staggering 600 million.
The pace of Blockchain adoption in China following the backing of the technology by its President has been nothing short of breath-taking and now it seems that state-owned telecom giants such as China Mobile, China Unicom and China Telecom now seek to capitalise on Blockchain to allow China to lead the market. Blockchain powerhouse Wanxiang Blockchain has formed a partnership with China Unicorn to investigate how the technology can be integrated to work with vast amounts of data which will be transferred at never seen before speeds.
Paul Moynan, Dragon co-founder comments, "it will be interesting to see how this partnership develops as once 5G fully rolls out the number of internet-enabled devices used on the telecoms network will be at an all-time high. 5G has brought unprecedented opportunities across the entire Chinese supply chain, and the world will be looking at how these companies address privacy concerns while still applying transparency. In many ways, users personal data will become the currency of the future which will empower the individual like never before and it will be fascinating to see how the telecoms world addresses this.”
5G is reputed to offer an increase in speeds by up to 100% of what users are used to and will allow 4K resolution movies to download in seconds and there will be no need to compress audio tracks which could introduce a new flood of music streaming services.
Regardless, it will be fascinating to see what direction this next generation technology takes but one thing is for sure – we’ll bring you the latest news right here.