PBoC-Backed Blockchain Trade Finance Platform Enters Test Phase

A blockchain trade finance platform spearheaded by China’s central bank has entered the testing phase ahead of an official roll-out. According to a report from 21st Century Business Herald on Tuesday, the first phase of the so-called Bay Area Trade Finance Blockchain Platform is already deployed across financial institutions in the southern city of Shenzhen and is currently undergoing final trials. The Bay Area in Southern China is an economic development zone consisting of major cities along the Pearl River and the special administrative regions of Hong Kong and Macau. The trade…