In today’s edition of Crypto Daily News, we’ll cover the details of the Chinese Central Bank launching its blockchain platform and Robinhood launching candlestick charts on its app.
Crypto Daily News: September 4th, 2018
Cryptocurrency News: Chinese Central Bank
The People’s Bank of China (PBoC) has officially launched the beta testing phase of its blockchain trade finance platform, says local news outlet Shanghai Securities News. The Shanghai News source states the Shenzhen Central Sub-branch of the PBoC has entered its trial phase of the platform earlier than expected.
This finance platform is called the ‘Bay Area Trade Finance Blockchain Platform.’ This platform seeks to create an “open financial trade ecosystem based on the Guangdong, Hong Kong, and Macau Bay Area.”
The report by the Shangai Securities news states that this new blockchain-based platform will help banks conduct audits, reduce unnecessary business costs, improve efficiency, and prevent and control business risks. It will also assist regulators and strengthen the sharing of information between different departments within the bank.