If you were looking for signs that China was serious about blockchain, here’s another.
Cointelegraph, citing Sina Finance, says that the Bank of China has just issued 20 billion yuan ($2.8 billion) worth of blockchain-based special financial bonds.
The bonds were made for small and micro-enterprises, part of an effort to help them “support their continued development in the economy.”
The bank has reportedly issued over 400 billion yuan ($57 billion) to small and micro-enterprise customers, a 35% rise from the year before.
As Cointelegraph notes, the bond issue comes as China heightens the importance of its digital economy:
Forkast Insights, the research arm of Asia-based Forkast, took an in-depth, comprehensive look at how blockchain technology is integrated in China.
The report pointed out that blockchain technology is rapidly maturing in China and has a slew of “real-world, practical use cases that are far beyond the experimental stage.”
In November, Cointelegraph reported that China’s blockchain development will see a compound annual growth rate of 65.7% from 2018 to 2023, and that the technology will exceed $2 billion by the end of 2023.
Photo: Junjiewu99
