Bank of China, one of the four largest state-owned commercial banks in the country, has filed a patent application for a process it says is better able to scale blockchain systems. According to a document released on Feb. 23 by China's State Intellectual Property Office (SIPO), the application was first submitted on Sept. 28 last year and invented by Zhao Shuxiang.
While the patent is currently in the review process and is yet to be granted, it comes as part of a wider effort by the country's state-owned commercial bank in advancing its businesses through using distributed ledger technology.
As reported by CoinDesk last year, Bank of China has already partnered with China's internet giant Tencent to trial blockchain in financial applications.
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