The China Construction Bank (CCB) recently announced it had enhanced its blockchain trading platform BCTrade.
According to a recent report, CCB introduced serious improvements to the platform, following its success over the past several months.
Blockchain trading platform
According to the banks’ latest reports, CBB’s BCTrade platform processed transactions worth more than $53.5 billion since its official launch.
Considering the interest, CCB decided that it is high time to release BCTrade 2.0. The updated version of the platform comes with significant improvements to cross-chain operations. With this boost, transactions between local and international offices of the same bank will happen several times faster.
In an official statement following the release of BCTrade 2.0 on 9 October, Ji Zhihong, CCB’s Vice President, claimed that these improvements aim to bring balance and stability to foreign trade operations. Additionally, Mr. Zhihong stated that one of the BCTrade platform’s main goals is to boost financial inclusion.
China’s digital currency
China has been showing tremendously innovative thinking when it comes to blockchain technology and digital currencies.
The BCTrade 2.0 blockchain trading platform is just one example. Recently, the People’s Bank of China (PBoC), hired six blockchain experts to start working on the CBDC – the Chinese Central bank digital currency.
Considering this, and the recent improvements CCB made to its blockchain trading platform, many find China to be a forward-thinking economy when it comes to the adoption of modern technology.
Statistics also support this claim, as China is actually one of the countries with the most significant number of patented blockchain projects.