China has begun to start embracing Blockchain technology and has stepped up its efforts to support the creation of Blockchain ecosystem.
The Chairman of the Industrial and Commercial Bank of China (ICBC) has said that the bank will focus on blockchain technology development, BiaNews reported September 1.
Founded in 1984, the ICBC is reportedly the largest bank in China with over 5,000 corporate and 530 million personal customers. In 2017, the bank focused on the construction of “intelligent banking” and “accelerated deployment in the field of financial technologies. ”
The ICBC Chairman Yi Huiman reportedly said that the financial institution will focus on innovations in cloud computing, big data, artificial intelligence (AI), the block chain, and the Internet of Things
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Blockchain ecosystem? Scary thing is: cash will begin to die, and this means that all your actions will be even easier to track. Would it be something like a Chinese social credit system? Also this will totally change the markets, for example the housing market: How the blockchain and distributed ledgers will transform the real estate market
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