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Hangzhou Sets Up $1.6b Government-backed Blockchain Fund To Invest In Start-ups – China Money Network
A RMB10 billion (US$1.6 billion) government-backed blockchain fund, dubbed Xiong An Global Blockchain Innovation Fund, has been launched in the Chinese city of Hangzhou to invest in innovative firms using blockchain technology. The fund is being co-established by the local government of Yuhang District, a suburb of Hangzhou, Hangzhou Future Science Town, and Hangzhou-based venture capital firm Tunlan Investment. Thirty percent of the funding comes from the government. Hangzhou, situated 100 miles southeast of Shanghai, is also home to e-commerce ... Full investment news article
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Bank of China,
The Richest 1% Are On Track To Control Two-thirds Of The World’s Wealth By 2030
Based on 6% annual growth in wealth, they would hold assets worth approximately $305 trillion. : The U.K.-based House of Commons Library said this week that, if current trends continue, the richest 1% will control nearly 66% of world’s money by 2030. Based on 6% annual growth in wealth, they would hold assets worth approximately $305 trillion, up from $140 trillion today, the Guardian reported. This follows a report released earlier this year by Oxfam, which said that just eight ... Full investment news article
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University of Nebraska Foundation,