Shenzhen, home to tech giants including Tencent, Huawei and ZTE, has launched its first blockchain venture capital fund worth of RMB500 million (US$79.2 million), announced at a blockchain expo in the city.  Shenzhen is the second major Chinese city to set up a blockchain fund. Earlier this month, Hangzhou set up a RMB10 billion (US$1.6 billion) government-backed blockchain fund, dubbed Xiong An Global Blockchain Innovation Fund, to invest in innovative firms using blockchain technology. Shenzhen Angel Capital Guiding Fund, a …

Chinese City Shenzhen Launches $79.2M Blockchain Fund appeared first on China Money Network.