Bank of China secures blockchain-based banking signature patent, driving fintech innovation

Bank of China secures blockchain-based banking signature patent, driving fintech innovationOn February 21, 2025, the State Intellectual Property Office of China announced that Bank of China Co., Ltd

Bank of China secures blockchain-based banking signature patent, driving fintech innovation

On February 21, 2025, the State Intellectual Property Office of China announced that Bank of China Co., Ltd. (hereinafter referred to as "Bank of China") has been granted a patent for a "Blockchain-based Bank Signature Method and System," with authorization announcement number CN114638692B. The application date was March 2022. This patent marks a significant breakthrough for Bank of China in the fintech sector, solidifying its leading position in digital transformation and providing crucial technological support for future banking innovations.

Established in 1983 and headquartered in Beijing, Bank of China is a major state-owned commercial bank primarily engaged in monetary financial services. Its substantial capital strength and extensive business network make it a key player in both domestic and international financial markets. According to Tianyancha data, Bank of China boasts registered capital of RMB 29,438,779.1241 million and paid-in capital of RMB 17,132,540.47 million. This massive capital scale provides a solid foundation for innovative business development and technological research.

The newly patented "Blockchain-based Bank Signature Method and System" aims to leverage blockchain technology to enhance the efficiency and security of bank signing processes. The decentralized, transparent, and tamper-proof nature of blockchain technology effectively addresses issues such as information asymmetry, cumbersome procedures, and insufficient security prevalent in traditional bank signing processes. Through the application of this patented technology, Bank of China expects to automate, intelligent, and streamline bank signing, thereby reducing operational costs, improving customer experience, and strengthening its competitive edge.

The successful acquisition of this patent signifies not only a technological advancement but also underscores Bank of China's strong commitment to and significant investment in fintech innovation. In recent years, Bank of China has actively promoted digital transformation, undertaking extensive research and application in areas such as artificial intelligence, big data, and cloud computing. The application of blockchain technology represents a crucial component of its digital transformation strategy, further enriching its fintech ecosystem.

Beyond this latest blockchain patent, Tianyancha data reveals Bank of China's extensive intellectual property portfolio. To date, it holds over 5,000 patents, 1,454 trademarks, and 252 administrative licenses. This accumulation of intellectual property reflects its long-term commitment to technological research and innovation, serving as a critical safeguard for maintaining market competitiveness. Bank of China actively participates in market competition, with Tianyancha indicating involvement in over 5,000 bidding projects, demonstrating its proactive approach to market expansion and business development. Furthermore, its investments in 18 companies expand its operational scope, enhancing its industry chain's integrity and competitiveness.

The acquisition of the "Blockchain-based Bank Signature Method and System" patent holds significant strategic importance for Bank of China's future development. It not only enhances its core competitiveness but also fosters technological innovation across the banking industry, contributing to a safer, more efficient, and convenient financial service system. Bank of China can apply this technology to various business scenarios, such as personal loans, corporate financing, and international settlements, further improving service efficiency, reducing operating costs, and delivering superior financial services to its customers. This will help Bank of China better adapt to the digital transformation of the financial industry and maintain its leading position in the fiercely competitive market. The successful application of this patented technology also provides valuable insights and references for other financial institutions, driving the entire financial industry toward greater intelligence and efficiency. Bank of China's innovative practices will undoubtedly inject new vitality into China's fintech industry. This is not only crucial for Bank of China's future but also plays a significant role in driving the digital transformation of the entire Chinese financial sector. It is foreseeable that Bank of China will continue to invest in fintech, explore new technological applications, and provide higher-quality, more convenient financial services to its customers.