THEKEY has launched a $20 million scientific research fund centered on improving the comprehension, innovation and promotion of a blockchain-based social insurance application. 

The fund was announced in a press conference held June 30 in Beijing and follows an agreement with the Information Center of Ministry of Human Resources and Social Security and China's Social Insurance Association to cooperate on the research of social insurance blockchain applications.

THEKEY posed as the initial sponsor and organizer of the fund, which would provide substantial support to all winning beneficiary partners. This support may cover industrial and technical resources, key data support such as personal health data; the processing of health data; the provision of data experimental environments; and direct access to THEKEY's award-winning technical team.

Commercial, government, academic or non-governmental organization individuals or institutions with remarkable accomplishments in relevant fields that have intensive international working background and are willing to follow all data security regulations set by the Chinese government are eligible to apply for this fund.

See more about the THEKEY and the fund at its website.