Chinese Banks Expand Domestic Blockchain Service Filings

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The presence of banks on the second official list of registered blockchain services in China has seen an expansion compared to the first round of filings.

The Cyberspace Administration of China (CAC) recently revealed its second list of names and filing numbers for a total of 309 domestic blockchain information services.

While only two Chinese banks made contributions to the first list, in the second list this number has expanded to four banks, with Industrial and Commercial Bank of China (ICBC) and Ping An Bank each registering two blockchain services, and Bank of Jiangsu and Suning Bank making one filing each.

ICBC’s two registered blockchain services include the “ICBC Xi Blockchain Service” (工银玺链区块链服务) and the “ICBC Financial Services Based on the Blockchain (中国工商银行基于区块链的金融服务).

ICBC has previously used blockchain technology to develop a platform for managing the provision of residential relocation funds in the Xiong’an New District.

Ping An Bank’s two registered blockchain services include an SAS blockchain platform (SAS区块链平台) and a blockchain-driven voting and decision-making system (区块链投票表决), while Suning Bank has registered a “Blockchain Internet of Things Mobile Property Pledge Financing Platform” (区块链物联网动产质押融资平台).

At present a total of six Chinese banks have registered 14 blockchain services with CAC.

In the first list China Zheshang Bank (浙商银行) registered five blockchain services, while WeBank (微众银行) made three filings.

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