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Home / Mike Norman Economics / Over $12.4 Billion USD Transacted On China’s Official Blockchain Project, PBoC Affiliate Report — Lujan Odera

Over $12.4 Billion USD Transacted On China’s Official Blockchain Project, PBoC Affiliate Report — Lujan Odera

Summary:
After studying trade and finance as the main use of the blockchain, the bank launched the first sovereign blockchain in 2018, registering a couple of patents along the way. So far, the country ranks as the largest blockchain patent holder in the world. The PBoC maintains the bank will not support any public blockchain yet as it focuses on its own blockchain project. So far, its blockchain project that offers multi-stage accounts receivable financing, a fast track for rediscounts and supervision over foreign trade payments is on the rise. Watch out for blockchain adoption across China. CoinGapeOver .4 Billion USD Transacted On China’s Official Blockchain Project, PBoC Affiliate Report Lujan Odera

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After studying trade and finance as the main use of the blockchain, the bank launched the first sovereign blockchain in 2018, registering a couple of patents along the way. So far, the country ranks as the largest blockchain patent holder in the world.
The PBoC maintains the bank will not support any public blockchain yet as it focuses on its own blockchain project. So far, its blockchain project that offers multi-stage accounts receivable financing, a fast track for rediscounts and supervision over foreign trade payments is on the rise. Watch out for blockchain adoption across China.
CoinGape
Over $12.4 Billion USD Transacted On China’s Official Blockchain Project, PBoC Affiliate Report
Lujan Odera
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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