Industrial and Commercial Bank of China Will Use the Blockchain

The administration of the Industrial and Commercial Bank of China has released a statement where they announced, that the bank is going to focus on blockchain development.

This is the largest bank in China, with over 530 million personal customers and more than 5 000 corporate customers. In 2017, the bank started focusing on the development of so-called “intelligent banking system”, and it is supporting the idea of the deployment of new technologies in the field of banking.

The chairman of the bank, Yi Huiman, told, that the bank is going to focus its attention on the innovations in cloud computing technologies, big data technologies, artificial intelligence technologies and other similar things, including the famous blockchain technology.

China is known for the very negative attitude to cryptocurrency, however, the blockchain technology is accepted and even welcomed in the republic. Moreover, the country is known for supporting different kind of technologies and implementing all possible technological achievements everywhere.

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