The usage of Blockhain for securitization has expanded in China faster than any other country in the world, according to Fitch Ratings.

For the foreseeable future, securitization is likely to use blockchain for certain aspects of a transaction, as opposed to full or end to end blockchain, as the technology, laws and regulations develop says Fitch.

In the report Fitch note some impressive developments:

There are at least eight ABS transactions which reported using blockchain technology for part of the securitization process. These transactions are not rated by Fitch and all but one of the eight transactions was privately placed. The exception is Jiaoying 2018-1, a CNY9.3 billion residential mortgage-backed security transaction issued by The Bank of Communications, one of the largest state-owned banks, using a proprietary blockchain Jucai Chain

They go on to say that the government's recent support of the Blockchain industry will likely mean that the rapid pace of expansion is set to continue across the financial spectrum. There are some key positives for the use of Blockchain in finance, one being, the technology gives the potential to promote data transparency and transactional efficiency. There are still some issues that need to be addressed such as data ownership, transfer of the asset/title, and security enforceability will need to be addressed before the technology becomes more widespread.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Crypto Today: Calm between the storm? Schiff says look out below, Dash, Monero stand out

Bitcoin in mid-range, BTC/USD is trading just below $7,400 after experiencing rises and falls of hundreds of dollars within days. Peter Schiff, a life-long crypto skeptic, said that pumpers and dumper have lost the plot, and added: "Look out below".

More Cryptocurrencies News

Ethereum Price Analysis: ETH/USD bumps into $148.00, waits for new drivers

ETH/USD has recovered to $148.00 on Thursday; however, the upside momentum has faded away during early Asian hours. The second largest coin with the current market capitalization of $16.2 billion has settled in a tight range limited by $148.00 on the upside.

More Ethereum News

Monero Price Analysis: XMR/USD rises from the ashes

Monero is arguably the biggest single-digit gainer on the first Friday of December. The crypto has increased in value by 2% on the day after opening the trading session at $55.01. 

More Monero News

Bitcoin Cash price analysis: BCH/USD market momentum turns from bearish to bullish

BCH/USD is on course of charting its second straight bullish day. Currently, the price has gone up slightly to $211.75 and is floating below the 20-day Simple Moving Average (SMA 20), SMA 50 and SMA 200 curves. 

More Bitcoin Cash News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: It's all about whales again

On the cryptocurrency market, regulators, governments and central bankers and other big names like that are inferior to whales when it comes to generating trends and price movements.

Read the weekly forecast

BTC

ETH

XRP