The expansion of the blockchain world through the Chinese military can be seen in the printer inks that are developed through cryptography.
Hengjiu Technology, a printer ink manufacturer, has a long-term partnership with the PLA to prevent information leaks from this area.
According to a transfer statement filed with the Shenzhen Stock Exchange, Hengjiu has received a hefty loan of $20 million to acquire a 71% stake in Minbo Information Technology Co., Ltd. Minbo is an encryption and information security company that has been serving the Chinese military and other government security agencies for about a decade.
In its recent annual report, Minbo said that the military and the government will be the two driving forces of the information security industry.
In its 2016 annual report, Minbo said it had obtained a license to build a military weapons quality control platform, and in its 2017 annual report, it had obtained a state secrets protection license from the Fujian National Administration for the repair or destruction of computers and paper media.
According to reports, Minbo is applying to serve on military and government projects that involve higher levels of classified information. The company also holds high-level licenses from government authorities such as the State Administration of Cryptography.
In its application, Minbo said it aims to generate $28 million in net profit over the next six years, with at least $2 million of that to be achieved by the end of 2019. According to Chinese media reports, Minbo could be the first company to achieve such a profit in the blockchain industry by reducing military contracts.