As per a local news source ‘BiaNews’, the chairman of ICBC bank’ Central Bank Of China’ recently stated that the bank would definitely be focusing on the development of the blockchain technology related projects.
The ICBC bank is the largest bank in the China established back in year 1984 with around more than 530 Mln customers. The chairman of the bank ‘Yi Huiman’ recently aforesaid that the financial organisation will be moving to new innovations related to cloud computing, AI’Artificial Intelligence’, IOT and blockchain technology.
As per ‘BiaNews’, the bankcanwork on finding use cases for “smart banking,”thatreportedly helpsto boostservicewithin thefinancialschemesand securefinancialinformationthat’sshared with third parties.
While Chinais understoodfor its negative stance towards crypto currencies by introducing and implementing more strict ruleson crypto related business in the country sinceSept.2017 however, the country has always embracedthe advantagesof blockchain, and is activelyresearchingto develop and apply the technology invariety of differentindustries.
Last week, the Beichuan Qiang Autonomous County of Sichuan Province and Beijing Sinfotek Group recently jointly signed a partnership deed fora new blockchain based company, for “forestry economic development and industrial poverty alleviation.”
Last month, the communist party of China ‘CPC’announceda primer on blockchain technology and itsattainableimplementations. By introducing book, the CPC reportedly aimsto helpgovernment authorities in understanding thethoughtof distributed ledger technology (DLT) andtake into accountthe advantagesand challenges of adopting blockchain on a national scale.