China banks use block chain alliance against bill fraud

China banks use block chain alliance against bill fraud

The eight domestic banks and block chain research start-ups in Shenzhen block chain Nationwide Financial Services Inc (ShenzhenBlockchainFinancialServices) cooperation, combating domestic forgery and improve efficiency.

Although the domestic market financing instruments in the expansion, but small and medium enterprises to meet the market demand.

According to the company said the new alliance will increase the speed and reliability of the transaction, thus making industry profits. Another to prove this is a block chain technology can change the traditional financial services.

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In announcing the alliance conference, the former general manager of IBM China potential area and Shenzhen area of financial services chain executives Cao Feng about the blockchain:

Application of “block chain technology in our society is far from potential. The Internet provides a lot of information, so it is very important to enterprise network security management. I think the blockchain will play an important role in the”.

The industry challenge is the authenticity of the bill; in recent years, regulatory inspection is not in place leading to rampant counterfeiting. Therefore, the domestic industry experts in finding solutions to these problems, this is also the cooperation will be engaged in the task.

According to local news reports, the alliance includes eight regional banks, Ganzhou bank, Guiyang bank, Suzhou bank, Shizuishan bank, nine rural commercial bank, Yaodu rural commercial bank, the central bank and the Bank of Langfang, and Shenzhen and Harbin on behalf of the government.

The project with the domestic blockchain attention growth agree without prior without previous consultation. Many large enterprises in the development of block chain related products, including Alibaba, Jingdong and financial service gold ant HNA group.

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