On the 29th of October, it was reported that the Industrial and Commercial Bank of China (ICBC) has applied for 41 patents related to its enterprise blockchain platform. China’s Cebnet
revealed the news along with the bank’s 60 ‘core technological breakthroughs’ and its blockchain developments.
As one of the country’s top four banks, along with
China Construction Bank, the Agricultural Bank of China and the
Bank of China, the ICBC has the resources and reach for a head start in blockchain. According to Tuesday’s report, it’s already achieved major milestones.
The bank has explored artificial intelligence (AI), big data, and 5G solutions along with distributed ledger technology (DLT). Its existing enterprise blockchain platform is used for fund collection, clearing, and disbursement plus bank-enterprise processing.
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