Tianjin launches the nation's first provincial blockchain Xinyi loan platform

According to Xinhua News, on December 31, 2019, the Tianjin Comprehensive Credit Service Platform for SME Financing ("Tianjin Xinyi Loan Platform") was officially launched. The platform has attracted the first batch of 49 institutions and 75 products, which can serve 800,000 enterprises, and promote the solution of "bank-enterprise information asymmetry" and the difficulty and financing of small and medium-sized enterprises. According to reports, the Tianjin Xinyi loan platform takes credit as the core and is based on blockchain technology. It gathers industrial and commercial, tax, environmental protection, electricity and other data, and connects communication service agencies, financial institutions, and enterprises to form private and small and medium-sized enterprises An effective way to solve problems such as information asymmetry and insufficient credit.