China Banking Association's “China Trade Finance Inter-bank Trading Blockchain Platform” is expected to be launched in August.

On July 2nd, Bai Ruiming, deputy secretary-general of the China Banking Association, said that the China Banking Association is based on the development needs of the industry and is driven by a new generation of information technology to jointly build the “China Trade Finance Inter-bank Trading Blockchain Platform”. This blockchain platform adopts a distributed underlying processing method, which can meet the management and business needs of banks in the aspects of information flow, data security, privacy protection, and transaction execution in inter-bank trade finance business, without changing the bank's respective processes. Under the premise, realize the electronic, information and convenience of inter-bank transactions, and create a new trade finance ecosystem. Up to now, 12 large commercial banks, such as industry, agriculture, China, construction and exchange, and some small and medium-sized banks have participated in the platform construction. The platform is scheduled to be officially launched in August and a press conference will be held in October.