Hurun Report released its first blockchain lists on June 9, together with Xiha Finance, a Chinese blockchain media outlet.

The lists rank the top 20 blockchain leaders, top 50 blockchain innovators and top 30 blockchain investors.

According to the report, Beijing took the top spot with 17 blockchain innovation companies in total, while Shanghai and Shenzhen tied for second place with eight. Hangzhou was fourth with seven, followed by Hong Kong, three.

Blockchain is a digital ledger system that uses sophisticated cryptographic technology to create a permanent, unchangeable and transparent record of exchange to trace transactions.

By the end of March, there were 456 blockchain technology companies in China forming a complete industrial chain, according to a white paper released by the Ministry of Industry and Information Technology.

Let's take a look at the 5 cities with the most blockchain innovation companies.

No 5 Hong Kong