For the first time, BOC uses the blockchain bond issuance system to issue 20 billion two-year microfinance special financial bonds

On December 4, the Bank of China announced that the bank had completed the issuance and pricing of the first 20 billion yuan of small and micro enterprise loans in 2019 on December 3 in China, and the funds raised were specifically used to issue small and micro enterprise loans. It is worth mentioning that in this issuance, BOC simultaneously used the self-developed blockchain bond issue system, which is also the first domestic bond issue bookkeeping system based on blockchain technology. Bank of China said that the use of blockchain technology to issue bonds has three main values. First, reduce the risk of information asymmetry in the bond issuance process. Second, reduce bond issuance costs and improve bond issuance efficiency. Third, it is helpful for follow-up audit and management. Earlier, according to the news on November 20, Bank of China completed the issuance and pricing of the second-phase secondary capital bonds in 2019 in China, and successfully tested the independently developed blockchain bond issuance system.