Industrial Bank of China (ICBC) Receives Patent for Blockchain-Based Red Envelope Circulation: Technological Innovation Drives Financial Service Upgrades

Industrial Bank of China (ICBC) Receives Patent for Blockchain-Based Red Envelope Circulation: Technological Innovation Drives Financial Service UpgradesOn April 4, 2025, the State Intellectual Property Office of China announced that Industrial Bank of China Co., Ltd

Industrial Bank of China (ICBC) Receives Patent for Blockchain-Based Red Envelope Circulation: Technological Innovation Drives Financial Service Upgrades

On April 4, 2025, the State Intellectual Property Office of China announced that Industrial Bank of China Co., Ltd. (hereinafter referred to as "ICBC") was granted a patent for a "Method and Apparatus for Red Envelope Circulation Based on Blockchain," with authorization announcement number CN113205323B. The application date was May 2021. This patent signifies a significant breakthrough for ICBC in blockchain technology application and represents a solid step forward in its financial service innovation.

Established in 1985 and headquartered in Beijing, ICBC is a major state-owned commercial bank committed to providing high-quality financial services. Its core businesses encompass various areas, including monetary financial services, and it holds a prominent position in both domestic and international financial markets due to its strong financial standing. According to Tianyancha data, ICBC boasts registered capital of RMB 35,640,625.7089 million and paid-in capital of RMB 24,800,000 million, providing a strong foundation for technological innovation and business expansion.

This blockchain-based red envelope circulation patent is not ICBC's first foray into technological innovation. Tianyancha data reveals that ICBC has invested in 30 companies, actively participates in market competition, and has participated in 5,000 bidding and tendering projects, demonstrating its strong market competitiveness and emphasis on technological innovation. Furthermore, ICBC holds 981 trademark registrations, 5,000 patent applications, and 76 administrative licenses, reflecting substantial investment in intellectual property protection and technological accumulation, as well as its commitment to brand and technological strength.

Blockchain technology, with its decentralized, transparent, secure, and traceable nature, has seen widespread adoption in the financial sector in recent years. ICBC's newly granted patent likely utilizes blockchain technology in the circulation of red envelopes, enhancing efficiency and security, minimizing manual intervention, and reducing fraud risks. This technological innovation not only optimizes ICBC's existing financial services and improves user experience but also provides new directions and approaches for future financial product and service innovation.

For instance, a blockchain-based red envelope circulation method can ensure the fast, secure, and transparent distribution and receipt of red envelopes, eliminating issues such as amount tampering and delayed arrival common in traditional methods. The immutability of blockchain technology also effectively prevents red envelope theft and malicious alteration. This is particularly significant for large-scale red envelope distribution events, such as major promotional campaigns and holiday celebrations.

This patent holds profound significance for both ICBC and the entire financial industry. By actively exploring and applying emerging technologies like blockchain, ICBC continuously strengthens its competitiveness and better serves its customers. The successful application of this technology also provides a valuable reference for other financial institutions, driving technological advancement and innovation within the industry. We can anticipate further breakthroughs from ICBC in blockchain technology application, contributing significantly to the development of fintech. This will not only enhance the efficiency and security of financial services but also contribute to building a safer, more convenient, and transparent financial ecosystem.

ICBC's patent is not only a testament to technological innovation but also a culmination of its long-term commitment to technological development and financial innovation. It demonstrates ICBC's strength and determination in technological innovation, laying a solid foundation for its future competitiveness. We believe that ICBC will continue to leverage its leading position in the financial sector, contributing significantly to national economic development and social progress.