Crypto News

Most Chinese banks already use the blockchain in their activity


According to the Industrial and commercial Bank of China, most banks in the country and the largest technology company introduced the blockchain in their products.

According to the report, 72 financial institutions have already reported to government that provide services on the basis of technologies of the distributed registry. Blockchain has integrated all state banks and most private. Mostly they use it in the field of trade Finance, supply chain management, calculations and digital accounts.

Only in China officially blockchain has introduced the 420 companies, including giants such as Alibaba, Tencent, Baidu and JD. Large technology firms that also develop their own applications in the field of Finance on the basis of the distributed registry, but mostly it is used for security systems.

The report PKBK said that Chinese banks and companies also use the blockchain for the management of the funds the issuance of securities and monitor loyalty.

Not only China encourages the development of this technology. Recently, the South Korean government said that now the “Golden time” for the development of the blockchain.

text: Ivan Malichenko, photo: Financial Times


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