Share this article
Blockchain Research Lab to Combat Financial Fraud in Shenzhen
A group of universities in China are teaming up to research blockchain technology and its potential impact on financial fraud.
By Chuan Tian
Updated Sep 11, 2021, 1:29 p.m. Published Jun 26, 2017, 8:25 p.m.
A group of think tanks and universities are co-launching a new blockchain research lab in Shenzhen, China.
Opened on June 26th, the research lab is a collaborative initiative that includes participation from the Chinese Academy of Sciences, the Shenzhen Institutes of Advanced Technology and Zhaolian Finance, one of the largest companies in China's consumer finance industry.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
According to the announcement, the new research lab will focus on using the technology to combat fraud, an issue those involved attribute to 50% of the losses in the consumer finance industry. The lab seeks to apply technologies such as blockchain, machine learning and AI to identify and prevent such instances.
All in all, it's the latest sign out of China that incumbent businesses are beefing up blockchain research efforts.
The last year has seen a number of blockchain consortia emerge, including those based in Shanghai, Shenzhen and Beijing, that aim to drive collective trials of the tech.
Shenzhen cityscape image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
XRP Slides as Traders Take Bitcoin Profits, With ETF Flows Still Strong
Institutional flows surged 54% above the weekly average, indicating strategic selling rather than retail panic.
What to know:
- XRP fell from $2.09 to $2.00, marking a 4.3% decline and underperforming the broader crypto market.
- Institutional flows surged 54% above the weekly average, indicating strategic selling rather than retail panic.
- Despite ETF inflows, XRP struggles to break the $2.09–$2.10 resistance, maintaining a tight trading range.
Top Stories
