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The Industrial and Commercial Bank of China (ICBC) has released a white paper on blockchain technology applications in finance. According to Sina Finance , the paper is the first of its kind in the banking sector. The document analyzes the current pain points in the financial sector, and compares Chinese trends in blockchain development to those taking place overseas. It pointed out that finance is the most commonly explored area for blockchain-powered applications:“There are 420 blockchain information and services providers registered in China. There are 72 firms offering blockchain-based financial services, 17 percent of the total, and they have registered 120 types of financial services.”ICBC, the world’s largest lender by assets, has conducted research…

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