Chinese Bank issues Securities on a blockchain
- Zheshang Bank, one of the largest privately held commercial banks in China, has completed an issuance of securities worth $66 million using its proprietary blockchain platform.
This is one of the first times ever that a financial institution issued Securites over a blockchain.
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Besides zheshang bank, in china JD also launched the JD blockchain. the second largest e-commerce in China, recently launched the JD Blockchain Open Platform, a blockchain-as-a-service platform that helps companies develop their own blockchain-based applications. Blockchain is a decentralized data book that is spread in various locations. The data is secured in an encrypted block, accessed through a peer-to-peer network. The first blockchain is a distributed ledger for bitcoin transactions, but this technology can also significantly improve the supply chain and financial records are easily traceable, tamper-proof transactions.