The ratio of the Blockchain technology, and China is cooking up in the last few weeks and months. After the statements by Xi Jinping have led to a legendary Bitcoin price rocket, which went down in the history books, was put into perspective the Hype again. It is Krista out is always more that China wants to use the Blockchain for their own purposes. Critics fear that it could come to more Monitoring and a further restriction of freedom. Apart from these concerns, the country seems to be the technology, but also for “good purposes” use. The “Bank of China” has now distributed $ 2.8 billion to Blockchain-based loans to smaller companies to support this.
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Bank of China uses the Blockchain
The Bank of China, one of the four major commercial banks in China, announced last Friday that it issued 20 billion Renminbi, the equivalent of 2.8 billion USD on Blockchain-based bonds to support small and smallest enterprises. The technology will be used to verify the ownership of the bonds, as well as the transactions.The Bank turned out that it is the first Time that you use the technology to emit bonds. In the last few weeks, you have solved the Pricing and the release is technically. The responsible persons informed that the two-year bond would have a coupon of 3.25%, as the Bank hopes to support the company through the borrowing of funds for you.The best and safest stock market choose for you to opt for the right provider is not always easy. Therefore, we recommend that you take a look at our Bitcoin brokers & exchanges to throw a comparison. Trading on the safest and best exchanges in the world! For Comparison
Santander Bank came to China before
The bonds Emission shows the Blockchain efforts of the country and help entrepreneurs efficient access to financial resources. Until the end of the third quarter of 2019, the Bank has already lent about 400 billion yuan (57.7 billion U.S. dollars) to more than 400,000 small businesses, but so far without the Blockchain.However, the Bank of China is the first Bank to issue bonds with the technology. Recently, the Spanish Santander Bank has done the Same with the help of the Ethereum network. It was, however, “only” to a volume of 20 million USD instead of USD 2.8 billion. The examples of the Santander Bank and Bank of China show that the Blockchain technology is becoming in the banking sector.What do you think about China and its Blockchain efforts? Come in to our Telegram Chat and talk with the experts and the Community. Subscribe to our News channel to not miss any News. (Image Source: Shutterstock)