Postal Savings Bank of China Develops Blockchain for ¥4 Trillion Business

[kreslik.news]

Postal Savings Bank of China (PSBC) has launched a blockchain-based asset custody system developed IBM using its Hyperledger Fabric. The system already executed more than 100 real business transactions on the blockchain since it went live in October 2016, involving the buying and selling bonds.

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The PSBC says that during the trial period, the system demonstrated blockchain’s ability to help streamline the traditionally complex credit verification process and manage risk, helping financial institutions operate more securely and efficiently. As one of the bank’s core services, asset custody now represents ... (read more)