WeBank Awarded Blockchain Technology Patent, Deepening Fintech Innovation

WeBank Awarded Blockchain Technology Patent, Deepening Fintech InnovationOn January 29, 2025, the State Intellectual Property Office of China announced that Shenzhen Qianhai WeBank Co., Ltd

WeBank Awarded Blockchain Technology Patent, Deepening Fintech Innovation

On January 29, 2025, the State Intellectual Property Office of China announced that Shenzhen Qianhai WeBank Co., Ltd. (WeBank) was granted a patent for "A Method and Apparatus for Task Processing Based on a Blockchain Network," with authorization announcement number CN111124631B. This patent, filed in December 2019, marks another significant achievement in WeBank's continued innovation and exploration in blockchain technology. This strengthens WeBank's leading position in fintech and provides strong impetus for its future development.

Established in 2014, WeBank is headquartered in Shenzhen, China. With registered capital of RMB 391.82 million and paid-in capital of RMB 300 million, it primarily focuses on monetary financial services. WeBank is committed to leveraging technology to improve the efficiency of financial services and actively explores innovative applications of fintech. In recent years, it has achieved remarkable success in digital finance, accumulating extensive experience and actively promoting the widespread application of fintech to serve a broader market.

The newly awarded patent, "A Method and Apparatus for Task Processing Based on a Blockchain Network," represents another breakthrough for WeBank in blockchain technology. Blockchain technology, with its decentralized, transparent, and secure characteristics, is becoming a crucial pillar in the fintech sector. WeBank's active deployment and application of blockchain technology aims to enhance the security, efficiency, and transparency of financial services. This new patent will further help WeBank improve its financial service capabilities, optimize business processes, and reduce operating costs.

The patented technology has a wide range of applications across various financial scenarios, including payment settlement, data management, and risk control. WeBank can use this technology to optimize existing financial services and develop new products and services to meet evolving market demands. For example, in payment settlement, it can improve transaction efficiency and security while reducing costs; in data management, it ensures data integrity and security, preventing leaks and tampering; and in risk control, it enhances risk identification and warning capabilities, mitigating financial risks.

Notably, WeBank's innovative drive doesn't stop there. Data from Tianyancha shows WeBank has participated in 59 bidding projects, holds 787 trademarks, 3437 patents, and 110 administrative licenses. This data demonstrates WeBank's significant investment in intellectual property protection and technological innovation, reflecting its strong innovation capabilities and commitment to sustained development. The accumulation of patents highlights its long-term investment in R&D and its ongoing commitment to advancing fintech.

WeBank's success stems from its technological prowess, keen understanding of market demand, and continuous investment in technological innovation. In the future, WeBank will continue to increase R&D investment, overcome technological bottlenecks, actively explore innovative fintech applications, and provide users with safer, more convenient, and efficient financial services. This blockchain technology patent is a solid step forward in WeBank's fintech innovation journey, signaling its continued leadership in the industry. WeBank's continuous innovation will positively impact the entire financial industry, driving digital transformation and upgrading. Its deep cultivation of blockchain technology will contribute to the development of Chinese fintech and enhance China's competitiveness in the global fintech arena. WeBank's case provides valuable experience for other financial institutions, encouraging them to explore fintech innovation and promote the healthy development of the financial industry. Through technological innovation, WeBank not only enhances its own competitiveness but also drives progress in the entire financial sector.