Blockchain Uber ran by China`s Ride Hailing Didi Chuxing

Co-founder of the Didi Chuxing ride-hailing company, Weixing Chen is cooperating with Yang Jun, co-founder of Meituan, local services firm for a blockchain app
29 May 2018   641

Didi Chuxing is estimated at close to $60 billion, and is searching an IPO at a higher evaluation. The ride hailing app will work as a platform to suggest ride hailing, delivery and other services. Yang Jun, interviewed at the China International Big Data Industry Expo 2018 at Guizhou, claimed the value of blockchain is built on whether or not people can really use it. According to the investor, blockchain technology can be used to develop different economic systems, such as tracking traffic from the Internet and providing additional services that meet users’ needs. 

Meituan joined Dianping, a peer review site, in 2016 to form Meituan Dianping, which is presently estimated at about $30 billion. Weixing Chen, being interviewed on the matter, declared that rail hailing will be the first mass test of blockchain on a social application. He also founded Hangzhou Fun City, that according to VB Profiles provides Internet games and mobile internet applications, and has invested in blockchain. Other ride hailing firms have announced investment in fintech and blockchain technology.

An Indonesia based firm, Frasindo, ran a coin earlier this year that will let the users to download an app that allows them to view cameras that track the vehicles and also view the onboard cameras. Frasindo partnered with ride-sharing companies in Indonesia.

Southeast Asia’s biggest ride-hailing platform, Grab, based in Singapore, last year reported about its plans to invest $700 million to bring accessible financing options for the Indonesian public to support Grab’s development plans in addition to providing loans for purchasing vehicles and smartphones.

Bank of China to Issue $2.8B Blockchain Bonds

Bank used its own DLT system to issue blockchain bonds
09 December 2019   54

The fourth largest state bank, the Bank of China, has issued two-year blockchain bonds for small businesses totaling $ 2.8 billion.

To issue digital certificates, Bank of China used its own blockchain system.

It is also the first blockchain-based bond issue accounting system in the country.

Bank of China

Securities will go on sale with an interest rate of 3.25% per annum.

Thus, the bank hopes to raise funds to support small businesses in the country. As of September, as part of this initiative, the bank provided loans to small and micro enterprises for a total of $ 57.7 billion.