Martin Baumann, the co-founder of CMCC Global warm-heartedly, welcomed Zhao at CMCC.
Yes, you guessed it correct, CMCC Global, one of Asia’s first venture capital where investors are focused solely on blockchain technology, brings Zhao Chen as a partner to set up a Shanghai office. Zhao Chen was the previous General Manager at NEO, the organization whose vision was to realize a “smart economy” by using blockchain technology and smart contracts to assign and manage digitized assets. Zhao Chen had also been an employee of OnChain (another reputable company with Blockchain Technology) and now will work with CMCC Global for Blockchain equity investments in the Shanghai Region.
Baumann mentioned that they knew Zhao for quite a long time because of his work with NEO. Zhao will bring his blockchain expertise and experience of Chinese and international financial markets. He later mentioned that CMCC is looking forward to expanding their business and reach in China with the help of Zhao.
Founded in 2016 in Hong Kong, CMCC Global has its branches in Toronto and Shanghai. It manages three digital asset funds and the Liberty Bitcoin Fund and looks forward to launching the Titan fund. This is a traditional venture capital fund that will invest primarily in Seed and Series A stage equity opportunities of blockchain companies. The company plans to invest in the “core technical and social infrastructure,” and believes that there will be regional disparities in blockchain platforms. It aims to maintain global relations with the companies to bridge the gap between the East and the West.
He believes that China is a crucial undisputed player in the blockchain space; this will open a door of opportunities for Chinese blockchain projects domestically and also on international grounds.
Spoken about the economy of China, the country has announced Blockchain as the critical technology for its development as a whole in 2017. In October 2019, the Chinese govt. Lays out numerous plans for harnessing the power of the Blockchain technology for more significant development. Thus China is seen as the emerging country with ever profiting technology and has mentioned in every list of top countries with this technology.
Baumann also says the following in context to the company and China.
Thus, with Zhao Chen coming into the superpower, Shanghai, and China as a whole hope to leap forward with Blockchain Technology.