On 1 April Bank of Beijing (BOB) executed a strategic cooperative agreement with the Beijing Academy of Blockchain and Edge Computing (BABEC).
BOB said that the cooperative agreement for the purpose of “driving digital transformation, and helping to establish the Chinese capital as a benchmark city for the digital economy. “
Under the agreement the two parties will engage in in-depth cooperation in the areas of fintech applications and industrial financial expansion, with BOB making full use of its “Chang’an Chain” (长安链) blockchain software and hardware system to raise the quality of fintech-related services.
Key focal areas will include supply chain financing, financial inclusion, client marketing and data security.