Chinese banks are actively implementing blockchain

More and more Chinese banks use the official blockchain platform for trading and financial transactions.

It is reported that 38 banks joined the official blockchain platform, launched in September 2018, by December 2019, which brought the company 87 million yuan.

Describing the benefits of blockchain, the group noted the ability to maintain the reliability of the data, ensuring the equal rights of the participating entities and comprehensive supervision.

A paper by the Blockchain Research Institute, a digital currency research group that helps PBoC create a digital currency, looks at the positive and negative aspects of using the aforementioned blockchain.