WeBank announces partnership with OpenNodes

WeBank, one of China's leading digital banks, has announced its partnership with the Distributed Ledger Technology (DLT) platform, OpenNodes, which belongs to the Infacomm Media Development Authority of Singapore.

WeBank announces partnership with OpenNodes

Distributed Ledger Technology

WeBank, one of China's leading digital banks, has announced its partnership with the Distributed Ledger Technology (DLT) platform, OpenNodes, which belongs to the Infacomm Media Development Authority of Singapore. The association's goal is to offer Singapore students the blockchain platform to accelerate development and innovation in the field of DLT. With this they also seek to encourage the research and development of blockchain applications especially for the financial sector and everything related to supply chains.

The "FISCO BCOS" platform is based on open source blockchain technology and was developed by the Shenzhen Blockchain Financial Consortium with the aim of promoting DLT research and innovation with the collaboration of different "brains" of the industry. WeBank announced last month that it would integrate the DAML digital asset smart contract language (an expressive language designed for financial institutions to model and execute agreements using DLT technology) to the FISCO BCOS platform. WeBank Executive Vice President and Director Henry Ma said: "Providing this open source technology as a development area will also help us strengthen the stack of our technologies in the process while enabling better products and services for the general public."

All the developments and innovations produced through the blockchain platform "FISCO BCOS" will be available to the public as open source. WeBank says they expect a large turnout from students at Singapore University of Technology and Design, Singapore University of Management, and Nanyang University of Technology. Henry Ma explained: "We seek to stimulate the talents of the next generation to create viable solutions using blockchain to serve the general public."