China continues to adopt Blockchain

The president of one of the most important banks in China, the China Minsheng Bank, says that blockchain technology will transform the financial system as we know it.

China continues to adopt Blockchain

China Adoption

For China it is clear that adapting to new digital technologies is a priority and has long been putting all its efforts to integrate blockchain technology into companies, banks and other service industries. In December of last year, the Bank of China issued 20,000 million yuan in bonds for small and medium enterprises that integrate blockchain technology into its operation.

One of the largest banks in China, the China Minsheng Bank, is one of the pioneers in the implementation of blockchain technology in the Chinese banking sector. The Minsheng Bank belongs mainly to non-governmental companies and is characterized by granting loans to small and medium enterprises. The adoption of blockchain technology by such important entities gives a vote of confidence for those companies that intend to integrate the blockchain into their operating chain.

The president of the Minsheng Bank, Hong Qi, spoke with the Journal of Economic Information and said: "The full adoption of digital technologies such as blockchain is expected to accelerate the digital transformation and improve its agriculture, manufacturing, finance and other services in the next 10 years".