Blockchain for ban­cas­sur­ance

Banking Frontiers - - Blockchain -

China Con­struc­tion Bank, which is one of the largest banks in the world, is on the verge of in­tro­duc­ing a block-chain-based app for use by the in­sur­ance and bank­ing sec­tors. The bank in­tends to start us­ing a cus­tom blockchain plat­form for ban­cas­sur­ance. The app will be used by the bank’s Asia op­er­a­tions and the bank ex­pects that it will im­prove cus­tomer ex­pe­ri­ence, re­duce pro­cess­ing times and boost trans­parency. The bank is part­ner­ing with IBM Blockchain in this project and most of the work is be­ing done by the bank’s Hong Kong staff. The bank is con­fi­dent it will in­tro­duce the sys­tem in 2017 it­self.

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