Financial Institutions in China: Using Blockchain and Other Technologies to Create Significant Competition for Consumer Electronics.

According to the Daily Security Report of August 24, the Chinese Federation of Banks recently released the "China Consumer Financial Companies Development Report (2020)". The report notes that incomplete statistics show that most schools in the sector account for more than 5% of their R&D capital in 2019, with some schools using it. In this regard, the China Banking Association believes that mainstream financial companies should make the most of modern information represented by big data, cloud computing, social media, intelligence, blockchain, etc. , creating significant competition among financial users.