How Dianrong is taking on shadow banking with blockchain

The Chinese P2P lender teams up with software startup R3 to provide new supply-chain financing by the distributed ledger technology that underpins cryptocurrencies.

How Dianrong is taking on shadow banking with blockchain

Blockchain isn't only about supporting cryptocurrencies like bitcoin or ethereum. Dianrong, a Shanghai-based P2P lending platform, is tapping the distributed ledger technology in an attempt to boost supports for cash-strapped small businesses. In doing so, it's hoping to find a transparent and efficient way of building its share of China's vast non-bank lending industry, at a time when regulators are putting shadow banking under the spotlight.

Dianrong has developed the new Corda app “CorDapp” which...

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