China Merchants Bank Stretches Blockchain Tech e-Invoices to Funds & Consumer Fi

[Goodcat49]

One of the top commercial banking institutions in China is expanding its use of distributed ledger technology (DLT)-based tax invoices. In 2018, Tencent innovated an e-invoicing blockchain technology and CMB was one of the institutions to participate in the Shenzhen Taxation Bureau launch of the blockchain technology and issued its initial invoice in November last year.

On January 10, the China Electronic Banking Network purported that the financial institution has expanded its usage, and the China Merchants Fund (CMF) subsidiary is utilizing it in addition to consumer finance subsidiaries.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/china-merchants-bank-stretches-blockchain-tech/

[Munareal]

The Blockchain technology will do a lot for the banks but the banks are scared and slow in coming to terms with it. Banks will definitely adopt the blockchain technology as Blockchain is transforming everything from payments transactions to how money is raised. Traditional banks will either embrace the blockchain technology or be consumed by it.

[Bobcrypto]

I think that banks have no alternative to the uses of blockchian, and whether they are scared or not, it is on their best interest for a mordern ways of doing business (especially financial transactions) world wide.
In addition, for the time being, it is sufficient to make it clear that the blockchian is becoming a far broader technology than just a banking technology.