China Merchants Bank International Partners with Nervos to Develop DApp

Asia Blockchain Review
October 14, 2019
China Merchants Bank International Partners with Nervos to Develop DApp

China Merchants Bank International (CMBI), a state-owned subsidiary of China Merchants Bank (CMB), recently announced its partnership with blockchain network Nervos to jointly develop and launch decentralized applications (DApps) for financial services.

Blockchain Ecosystem Powered by CKB

Nervos’ public, permissionless layer-one protocol Common Knowledge Base (CKB) provides a secure and trustless foundation, while its layer-two solutions enable unlimited scaling via smart contracts. 

As CMBI explores blockchain technology to enhance its products and services, the firm plans to utilize Nervos Network and its native CKB architecture to power future decentralized finance applications.

According to Nervos Networks co-founder Kevin Wang, this partnership will enable CMBI to create a decentralized ecosystem with DApps that are both retail and institution facing. CMBI is exploring the tokenization of assets, payments, identity verification, trading and lending through blockchain.

“Basically what has mostly been under the traditional finance umbrella, they [CMBI] are going to experiment to put into decentralized applications,” Wang added. 

Permissionless Blockchain for Financial Apps 

CMBI has previously experimented with permissioned blockchain for internal purposes, while the partnership with Nervos is CMBI’s first project to tap into the public blockchain space, according to a spokesperson. 

Compared to permissioned blockchains, the permissionless ones are “ideal for inter-bank or external client-facing applications where security and multi-party verification are needed,” the spokesperson said.

Wang has described CMB as early adopters of technology, saying, “They are way ahead of all the other banks that we know of, so they actually have done a lot of research internally, build pilot programs in that, and willing to jump in on the public side.”


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

    Related Article
    Blockchain Enables Verification of COVID-19 Immunity
    Given the virus is not going to disappear in a hurry and we are some time away from vaccinating the ...

    November 21, 2020

    Illicit Cryptocurrency Activity: A Concern
    Market regulators such as SEC has accepted cryptocurrencies as a financial instrument and are consta...

    November 20, 2020

    IBM Using Blockchain to Help Businesses Reopen during COVID-19
    IBM’s healthcare unit, IBM Watson recently announced that they will soon be launching an app to supp...

    November 20, 2020

    Canadian Pacific Railway Collaborates with TradeLens
    Canadian Pacific Railway recently collaborated with TradeLens in a bid to improve its efficacy as an...

    November 19, 2020

    We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us