ICBC Awarded Blockchain-Based Business Data Processing Patent, Driving Fintech Innovation

ICBC Awarded Blockchain-Based Business Data Processing Patent, Driving Fintech InnovationOn December 31, 2024, the State Intellectual Property Office of China announced that Industrial and Commercial Bank of China Limited (ICBC) was granted a patent for "A Method for Business Data Processing Based on Blockchain, Related System and Node," with authorization announcement number CN113034281B. The patent application was filed in March 2021

ICBC Awarded Blockchain-Based Business Data Processing Patent, Driving Fintech Innovation

On December 31, 2024, the State Intellectual Property Office of China announced that Industrial and Commercial Bank of China Limited (ICBC) was granted a patent for "A Method for Business Data Processing Based on Blockchain, Related System and Node," with authorization announcement number CN113034281B. The patent application was filed in March 2021. This achievement marks ICBC's continued innovation in financial technology and a further enhancement of its technological capabilities, providing strong technical support for its future business development.

As one of China's largest commercial banks, ICBC has always been committed to promoting the innovation and application of financial technology. This patent, focusing on the application of blockchain technology in business data processing, reflects ICBC's unwavering pursuit of improving data processing efficiency, security, and reliability. Blockchain technology, with its decentralized, transparent, and secure characteristics, has received widespread attention in the financial industry. Applying blockchain technology to business data processing can effectively address many problems existing in traditional data processing methods, such as data silos, data tampering, and data leakage. ICBC's breakthrough in this patent technology is expected to play a significant role in solving these problems.

While the specific details of the patented technology have not been publicly disclosed, the patent name suggests that it may cover the application of blockchain technology within ICBC's internal business systems, such as account management, payment settlement, and risk control. By utilizing blockchain technology to build a secure and reliable data processing system, ICBC can further improve its business efficiency, reduce operating costs, and enhance data security and customer trust. This is of significant importance in enhancing ICBC's core competitiveness and consolidating its leading position in the financial industry.

According to Tianyancha data, ICBC was established in 1985, with a registered capital of RMB 35,640,625.7089 million and paid-in capital of RMB 24,800,000 million. Headquartered in Beijing, ICBC, primarily engaged in monetary financial services, operates across a wide range of businesses, covering personal finance, corporate finance, and investment banking. Its strong capital strength and extensive business network provide a solid foundation for its financial technology innovation.

In addition to this blockchain patent, Tianyancha data shows that ICBC has a rich accumulation of intellectual property rights, including 947 trademark registrations, 5000 patents, and 73 administrative licenses. This data fully reflects ICBC's high emphasis on intellectual property protection and its continued investment in technology research and development and innovation. ICBC actively participates in market competition, having invested in 30 companies and participated in 5000 bidding and tendering projects, demonstrating its strong market competitiveness and sustainable development vitality.

ICBC's blockchain-based business data processing patent is another significant achievement in the field of financial technology. This is not only a recognition of ICBC's technological strength but also provides valuable experience and reference for the exploration and development of blockchain technology applications in the Chinese financial industry. In the future, with the continued maturation of blockchain technology and the expansion of application scenarios, ICBC's innovative applications based on this patented technology will further drive the advancement of financial technology and provide customers with safer, more efficient, and convenient financial services. This is not only of great significance to ICBC's own development but will also have a positive impact on the entire financial industry. ICBC will continue to adhere to technological innovation, continuously explore new areas of financial technology, and contribute to the high-quality development of China's financial industry. It is worth noting that the specific application and future development of this patented technology deserve continued attention and in-depth research from the industry. ICBC's continuous investment and innovation in financial technology will undoubtedly give it a greater advantage in future competition.