RATE Group | China’s Central Bank Supporting the Creation of a New Trading Platform
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China’s Central Bank Supporting the Creation of a New Trading Platform

16 Sep China’s Central Bank Supporting the Creation of a New Trading Platform

Posted at 16:20h in Ethereum News by

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Even that countries around the world are giving a hard time to crypto-traders, investors and coins in general, there are many that do support the technology behind them. One of them is China which is signing various blockchain-related patents being on constant support for growing the tech.

The platform backed by PBoC or People’s Bank of China named Guangdong-Hong Kong-Macao Great Bay Area Trade Fi-nance Blockchain Platform is going to hurdle with various financial and transaction-related issues that micro to medium firms deal with.

“China has been cracking down on activities using virtual currencies, but blockchain is a quite advanced technology which has been adopted by many countries. So China will definitely not lag behind,” Li Chao, an analyst at Beijing-based consultancy iResearch, told the Global Times on Wednesday.

“Blockchain technology could also ensure a more efficient and safe information-sharing system, and it is expected to reduce the financing costs for micro-…

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