A visitor tours a display center of the National Big Data Comprehensive Pilot Area in southwest China's Guizhou Province, May 22, 2019. (Xinhua/Ou Dongqu)
BEIJING, Aug. 24 (Xinhua) -- China's first blockchain-based sci-tech innovation loan has been launched recently by BOC Fullerton Community Bank through sci-tech service platform of the Xiongan New Area, Hebei Daily reported on Tuesday.
The blockchain-baised sci-tech service platform was launched in April in the Xiongan New Area to enable data sharing among government, enterprises and the third party financial institutions.
As unknown risks, light asset and high growth continue to place strain on sci-tech startups, the platform has been working with financial institutions including the bank to tackle the difficulty in funding for these startups.
With transparent, immutable, and traceable blockchain technology, sci-tech enterprises could receive targeted credit supports through collaboration and credit data platforms powered by the underlying "smart contracts".
(Edited by Li Shimeng with Xinhua Silk Road, lishimeng@xinhua.org)
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