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We have written about NEO, described by some as a competitor to Ethereum. There is THEKEY, a blockchain-based identity verification technology that is still under development, and QTUM, a competitor of NEO. Others include Factom, SiaCoin and ZCash, which are all funded by a Chinese venture capital firm at which Ethereum founder Vitalik Buterin was a general partner until January of this year. A few days ago, Ripple announced that it is making moves to enter the country.

Interestingly, it is doing this by deliberately differentiating itself from other cryptocurrencies, perhaps demonstrating that it is savvy to the Chinese market.