On April 30, Huobi Labs and Tianya Community jointly signed an agreement on strategic cooperation. Huobi Labs is a subsidiary of Huobi China, one of three largest bitcoin exchanges platforms in China. Tianya Community is a social networking and forum service website, popular in China. Under the agreement, both parties will jointly build a “Global Cultural and Creative Blockchain Lab” in Hainan Province, China.
Huobi’s move occurs two weeks after the government of China announced that by 2020 the country will create an international free trade zone on the Hainan Island in order to give foreign firms greater economic freedom.Consequently, Huobi Labs plans to use its technological, talents and capital strengths in the blockchain industry to support the development of Hainan Special Economic Zone and building of an international free trade zone.
Huobi Labs empowers millions of users worldwide across over 130 countries, offering funding in crypto form, advice from Huobi investment, as well as access to SMART-Chain evaluation model. The SMART-Chain evaluation model is a complex model that provides an analysis of the whole blockchain asset ecosystem. These are the strategic insights based on research, trends, and more than 50 unique indicators for a correct assessment of investment potential and risk. It is a single source for in-depth, comprehensive information about more than 190 cryptocurrencies. Huobi Labs provides a wide range of advice including finance, trading advice, professional service, higher liquidity, and token economics.
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Huobi and Tianya Community will further collaborate with industrial companies in order to build a blockchain research institute in conjunction with international universities and also build a 40,000 square meters blockchain incubator. The cooperation will be aimed at sharing brands, technological applications and research results, launching regular research reports on the blockchain industry and organizing blockchain-related meetings and summits.
The national-level strategic collaboration was personally planned by the President Xi Jiping, then personally deployed, and personally promoted. The Hainan Province in China is currently reforming and opening several initiatives from various fields. Such initiatives are also meant to channel the talent that the country has.
Li Lin, the founder of Huobi Group stated that the cooperation between Huobi Labs and Tianya is just a beginning and they plan to launch 5 initiatives in the province in 2018:
Under the agreement, Huobi China headquarters (Not Huobi Global, Nor Huobi.Pro) will be moved to Hainan, to settle in Hainan Ecological Software Park.
Create 10 GlobalBlockchain+ labs thanks to cooperation with the leading global industrial companies.
Establish a global top blockchain research institute with the top universities in the world.
Build 40,000 square meters blockchain incubator.
Launch $1 Billion global blockchain industry fund. This money will be used to fund startups and ensure the DLT industry will continue to thrive in China.
Huobi Group has grown into the leading global blockchain asset financial service provider, which consists of Huobi OTC, Huobi Autonomous Digital Asset Exchange, Huobi Pro, Huobi China, Huobi Mining Pool, and others. It offers a technology platform, a risk control system, operation, and customer service. Huobi Group reported about its plans to expand into Europe with new offices in London opening this year.
Huobi Group consists of Huobi Pro, Huobi Autonomous Digital Asset Exchange (HADAX), Huobi OTC, Huobi Korea, Huobi US, Huobi China News Desk, Huobi Wallet Digital Asset Management, Huobi Academy of Blockchain Application, Huobi Labs, Huobi Capital and Huobi Mining Pool.