Agricultural Bank of China Files Blockchain Patent to Enhance Efficiency and User Experience

Agricultural Bank of China Files Blockchain Patent to Enhance Efficiency and User ExperienceFinancial News reported on March 22, 2025, that Agricultural Bank of China (ABC) filed a patent application in November 2024 for a "Business Processing Method, Device, Electronic Equipment, Storage Medium, and Product," with publication number CN119648353A. This application reveals ABC's latest efforts in leveraging blockchain technology to improve business processing efficiency and user experience

Agricultural Bank of China Files Blockchain Patent to Enhance Efficiency and User Experience

Financial News reported on March 22, 2025, that Agricultural Bank of China (ABC) filed a patent application in November 2024 for a "Business Processing Method, Device, Electronic Equipment, Storage Medium, and Product," with publication number CN119648353A. This application reveals ABC's latest efforts in leveraging blockchain technology to improve business processing efficiency and user experience.

The patent abstract details a business processing method designed to optimize user transaction workflows. The core of this method lies in utilizing a pre-established private blockchain network to store and manage ownership information for physical and index assets. Specifically, when a user terminal sends a transaction request, the system first determines the target transaction type and attributes of the object to be transferred. The system then queries the requested user's existing relevant object information from the private blockchain network. Importantly, this private blockchain network stores two types of business data: physical business data originating from the transfer of ownership of physical objects, and index business data originating from the transfer of ownership of index objects. Finally, the system processes the physical and index business data based on the determined target transaction type, attribute information, and the object information retrieved from the blockchain network.

This blockchain-based business processing method effectively addresses inefficiencies and information asymmetry common in traditional business processing. Storing ownership information for physical and index assets in a secure and reliable private blockchain network ensures data integrity and consistency, thereby improving processing efficiency and accuracy. Furthermore, the method enhances user experience by reducing obstacles and wait times during transactions. The patent application highlights "meeting user transaction needs and improving user experience" as a core advantage.

As one of China's largest commercial banks, ABC consistently focuses on innovation and application of financial technology. This blockchain patent application represents another significant achievement in its ongoing exploration and investment in fintech. It underscores ABC's commitment to technological innovation and its relentless pursuit of improved service quality and efficiency. This patented technology can be applied not only to optimize internal business processes but also potentially provide new technological solutions for other financial institutions and related industries, driving digital transformation and upgrading across the sector.

A further analysis reveals the innovativeness of the patent's technical solution in several aspects. First, it applies blockchain technology to complex transaction scenarios, effectively managing and tracking ownership information for physical and index assets. This offers greater security and transparency compared to traditional database management. Second, the solution cleverly integrates physical and index business data within a single private blockchain network, enabling centralized management and efficient utilization of data. This integration simplifies data processing, reduces redundancy, and improves overall system efficiency. Finally, the solution prioritizes user experience, optimizing the transaction workflow to reduce user steps and enhance satisfaction.

According to Tianyancha (a Chinese business information provider), ABC is a powerful financial institution with leading scale and influence in the industry. Established in 1986, ABC has registered capital of RMB 34,998,303.3873 million and paid-in capital of RMB 33,923,990 million. Located in Beijing, the bank primarily engages in monetary financial services, with a broad scope covering various sectors of the national economy. Its strong financial foundation provides solid support for its fintech investments.

Tianyancha data also shows ABC's active market participation, with investments in 20 companies, participation in 5000 bidding projects, 1303 trademark registrations, 4891 patent applications, and 120 administrative licenses. This data reflects ABC's active role in the market economy and its investment in intellectual property protection and technological innovation. The blockchain patent application represents another significant advancement in its technological innovation efforts.

ABC's blockchain patent application is not only crucial for optimizing its internal business processes but also positively impacts the development of the entire financial industry. It marks a significant step forward for ABC in the fintech field, providing a valuable reference for other financial institutions. With the continuous maturation of blockchain technology and the expansion of application scenarios, we can expect ABC to deliver more innovative technological achievements in the future, contributing significantly to the digital transformation of the financial industry. The application of this patented technology will improve internal operational efficiency, better serve customers, enhance customer satisfaction, and ultimately promote the bank's sustainable development.

In conclusion, ABC's blockchain patent application demonstrates its strong commitment to technological innovation and its resolute dedication to improving business efficiency and user experience. The innovative nature of this technical solution lies in its clever application of blockchain technology to complex transaction scenarios and its effective integration of physical and index asset data management, providing a new direction for the future development of financial technology. With the continuous refinement and application of this technology, ABC will be better positioned to meet customer needs and maintain a leading position in the competitive market. Simultaneously, this patent provides valuable experience and reference for other financial institutions, driving technological progress and development within the entire financial industry.