China’s Central Bank launched an open blockchain platform.
The platform was launched at the world summit on Finance and technology in Hangzhou. All brop is a public blockchain Protocol, developed by the Research Institute of the blockchain, Gongchao. The Institute is the last link in the chain of subsidiaries in full ownership of the people’s Bank of China (PBOC).
All brop is aimed at several sectors of the economy and is mainly aimed at reducing the bureaucratic burden.
The launch of this platform is one of the first practical realizations of active patenting activities of China. According to some reports the people’s Bank of China has received 70 patents in the field of blockchain last year. And China in the number of patents in this area is on the first place among all countries. CEO of umbrella Corporation “Zhongchao Credit Card Industry Development”, the Fan Gifu:
In early 2015 we have started working on the blockchain technology, and last year created a research Institute of the blockchain, Gongchao.
Our key focus is the development of blockchain and related financial technologies.
Despite the tough stance of China in relation to cryptocurrency and ICO, the blockchain technology has long been a subject of interest to authorities.