China issues $2.8bn bond worth of blockchain to support SMEs

Bank of China has issued 20 billion Chinese yuan ($2.8 billion) of special bonds to fund small and micro-enterprise business according to China development network. This funding is in line with the bank’s inclusive small and micro-enterprise loan balance at 404 billion yuan so far in 2019. It also represents a 35.56 per cent increase since the end of last year catering for nearly 410,000 small and micro-enterprise owners. These bonds were however not issued the standard way rather, the Chinese bank used blockchain to organize the affair coupled with the fact that the country is just beginning to re-embraces