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China's Largest Banks Already Use Blockchain Tech

The White Paper of one of the largest banks in China, the Industrial and Commercial Bank (ICBC), says that 70+ financial companies in China all state owned banks and the largest technology companies are implementing blockchain into their work.

They use blockchain in such areas as trade finance, supply chain management, settlements, digital invoices.

China's 4 largest technology companies, Baidu, Alibaba, Tencent and JD, are now developing their own blockchain-based apps.