China’s Yunnan Province to Collaborate with Israeli IT Company on Blockchain Infrastructure

China’s Yunnan Province governmental holding group Yunnan Investment Holdings Group Company Ltd. (YIG) and Israeli IT company Aman Group announced Thursday they entered a joint venture to develop blockchain infrastructure for the Chinese market. YIG and Aman announced the venture at the Tel Aviv China (Yunnan) – Israel Innovation Cooperation Forum, held in Tel Aviv and attended by Yunnan province officials and the Chinese ambassador to Israel on Thursday/

In an interview with Calcalist held Thursday, Aman Group CEO Ben Pasternak said the joint venture will focus primarily on blockchain applications pertaining to maritime shipping and logistics, and digital health. A company, Logchain China Ltd., has been operating as a subsidiary of Aman for over three months, Pasternak said. The joint company is hiring in Israel and China, with the goal of employing a team of 60 people by mid-2019, Pasternak said.

Based in Central Israel, Aman Group employs around 2,000 people through seven subsidiaries. The company is active in fields including cybersecurity, blockchain, fintech, and data management.