[2019-01-13]China Merchants Bank Stretches Blockchain Tech e-Invoices to Funds &

[Vladdirescu87]

China Merchants Bank Stretches Blockchain Tech e-Invoices to Funds & Consumer Finance

One of the top commercial banking institutions in China is expanding its use of distributed ledger technology (DLT)-based tax invoices. In 2018, Tencent innovated an e-invoicing blockchain technology and CMB was one of the institutions to participate in the Shenzhen Taxation Bureau launch of the blockchain technology and issued its initial invoice in November last year.

On January 10, the China Electronic Banking Network purported that the financial institution has expanded its usage, and the China Merchants Fund (CMF) subsidiary is utilizing it in addition to consumer finance subsidiaries.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/china-merchants-bank-stretches-blockchain-tech/

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[btyco]

It's good that they are making use of the technology, but too bad that they are no using a recognised crypto currency. A well known bank  like the CMB could be useful for promoting digital currencies. Good that they are not using ripple though, perhaps something else can be used though