The banking division of the company Suning has developed a consortium blockchain for the conduct of banks-members of a common blacklist of credit histories.
According to local newspaper Finance Sina, Suning Bank has established a distributed registry, which will take the black list of suspicious borrowers. At the same time the organization wants to create a special banking Association in which this network will be used to combat fraud.
Within the network each member of the consortium will be assigned to the node with the right of access to the original black list, listed Suning Bank. Then they can add to the list.
This is not the first project of Suning Bank associated with bloccano. Opened just last year, the Bank in September joined the Union, created by private commercial banks, CITIC and Minsheng, and dealing with payments domestic letters of credit using the blockchain. According to the data published in the latest annual report of CITIC for 12 months, the amount processed by the platform transactions amounted to $156 million.
A patent for a similar project in March received the Royal Bank of Canada. In the text of the patent describes an application that automates the process of formation of a credit rating and providing greater transparency of credit histories.
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