China’s Banking Sector Releases Its First Blockchain Supply Chain Finance White Paper

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The Chinese banking sector has just seen the release of its first white paper on blockchain-driven supply chain financing.

China Zheshang Bank and Zhejiang University jointly released the “White Paper on Supply Chain Financing Based on Blockchain Technology (2020)” (基于区块链技术的供应链金融白皮书(2020)) on 23 December.

The white paper is reportedly the first of its kind released by a member of the Chinese banking sector, and focuses in particular on innovative applications of blockchain technology to supply chain financing, the assessment of real-life applications of blockchain technology, as well as new operating and applications standards.

“In recent years Zheshang Bank has continually applied blockchain technology to achieve innovative applications in the field of supply chain financing services, and this has helped to achieve major results in the real economy,” said Yang Guozheng (杨国正), head of Zhehang Bank’s fintech department.

“The white paper is a systemic assessment and summary of the results of these practices, and possesses major reference value for blockchain technology and supply chain financing.”

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