Blockchain, Fintech, News

Chinese central bank releases blockchain registration open platform

At the Global Financial Technology (Hangzhou) Summit sponsored by the Hangzhou Municipal People’s Government on the 26th of March, the Hangzhou Blockchain Technology Research Institute of the People’s Bank of China Credit Card Industry Development Co., Ltd. releases blockchain registration open platform which is designed to provide enterprise partners with a data registration platform based on blockchain technology.

According to the White Paper, the platform, through the joint registration of trusted identities of digital identities, trusted data, and digital vouchers by various partners, provides registration information of existence, integrity, identity, time stamps, data relationships, and credentials to third parties.  The blockchain technology ensures that the data information is verifiable, auditable, traceable, and irrevocable.

The Hangzhou Blockchain Technology Research Institute is affiliated to the People’s Bank of China.   In September 2017,  the Research Institute was formally established to focus on innovation in the field of financial technology.

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