2018-7-9 16:35 |
The Industrial and Commercial Bank of China (ICBC), one of China’s “Big Four” state-owned commercial banks and one of the world’s largest by total assets, is seeking to patent a blockchain system for the exchange of financial assets.
A transaction would be considered complete once the network has received sufficient validations from participating nodes for consensus above a pre-determined threshold.
The patent application marks the bank’s latest filing related to blockchain technology, according to the China State Intellectual Property Office.
As previously reported by CoinDesk, the bank is also seeking to patent a blockchain system that can verify user information over a distributed network.
According to a news report from the South China Morning Post, ICBC took over Well Fargo to become the largest bank in the world by total assets as of January 2017.
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