Almost half of the 26 publicly cataloged banks in China have confirmed of deploying blockchain applications in 2017, as per the report.
Chinese banking sector news source CEBNet said Friday that, amongst the 26 Chinese banks, 12 of them revealed in their yearly filings that blockchain apps were adopted for a variety of use cases in the previous year.
The 12 institutions entail major state-owned commercial banks, for instance, China Construction Bank, the Agriculture Bank of China and the Bank of China in addition to other private firms such as China Merchants Bank and other city-level entities.
The used applications range from using blockchain technology to issuing invoices and ID authentication processes and cross-border loans.
[Video] 12 Chinese Banks Adopted Blockchain Apps in 2017
