WeBank, a digital-only bank in China, launched its new brand “WeBank Blockchain” which will be focused on building trusted ESG infrastructure to promote equity and sustainable development for its blockchain technology.
To better promote ESG development, WeBank Blockchain will focus on key technologies used for privacy computing, trusted governance, distributed digital identity and more.
It will develop the framework for ESG applications and build open-source ecosystem promoting quick and efficient implementation of ESG programmes.
Through an open-source ecosystem, WeBank Blockchain will work with more partners to drive ESG applications and cultivate talent with both blockchain and ESG capabilities, which is expected to cover more than 100,000 training opportunities.
The bank has been exploring technological innovation by using blockchain as one of the key technologies to improve efficiency of digital and inclusive finance services.
In 2017, WeBank realized its own secure and controllable blockchain technology and led the open-source development of FISCO BCOS, the financial-grade open-source consortium chain platform.
Today, the open-source consortium chain ecosystem initiated by WeBank Blockchain along with other parties has attracted more than 3,000 institutions and over 70,000 individual members.
It has supported the deployment of several hundred blockchain applications in various industries such as finance, healthcare, legal and justice, agriculture and manufacturing, with more than 200 benchmarking applications for industrial digitalization.
After releasing the source code, WeBank has been actively promoting the application of blockchain for industrial digitalisation.
Nanqing Li, President of WeBank said,
“WeBank will leverage its advantages in strategic positioning, agile trial-and-error experimentation, dedication to innovation and explore cutting-edge technologies to promote equity and sustainability with WeBank Blockchain.
WeBank will spare no efforts to develop valuable technologies and services boosting high-quality development, developing a digital economy, accelerating high-tech initiatives and assisting stakeholders to achieve carbon peaking and carbon neutrality.”
Henry Ma, Executive Vice President and Chief Information Officer of WeBank said,
“After nearly seven years of rapid development, WeBank Blockchain has completed building the foundation in terms of notion, technology and ecosystem and is ready to embark on a new journey. Today, equity and sustainable development have been emphasized in China’s national policy.
To embrace this new opportunity, we will leverage blockchain technology as a trust machine to help stakeholder pursue ESG strategies and build trusted ESG infrastructure to accelerate the digital transformation of industries and facilitate sustainable development.”
