Financial ServicesPayment

China Continues Blockchain Development

An article by China Daily has revealed the news that China’s social security system will be utilising blockchain technology in reducing the cost of transactions and enabling trade. The National Council for Social Security Fund controls finances worth billions of US dollars and leveraging blockchain technology will result in huge savings as transaction speed is increased and third parties are removed.

Vice-chairman of the National Council for Social Security Fund, Wang Zhongmin was reported as saying: “There’s no doubt that blockchain technology will be used in the social security system because of its valuable applications in the investment and management of social security funds,”

READ MORE OF THE ARTICLE AT CHAIN-FINANCE.COM

Based near Windsor, England, Matthew Warner is an enthusiast for innovative, cutting edge technologies. He is a B.Eng. graduate in engineering with honors from the University of Warwick and also holds an PGCE in education degree. Matthew is a member of Mensa.
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