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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin BitMEX shorts liquidations explode as price climbs to $9,600

Bitcoin price rallied from levels under $9,200 to touch $9,600 barely a day after Goldman Sachs branded it a non-asset class. Investors around the world appear to be joining the market as though to spite one of the largest investment ...

More Bitcoin News

Ripple Price Analysis: XRP/USD charts bearish cross patten

XRP/USD continued its bullish domination as the price went up slightly from $0.1979 to  $0.1982. Presently, the price has peeked above the green Ichimoku cloud, while it has found resistance at ...

More Ripple News

ETH/USD breaks out into the $220 zone, will it be $230 or $210 next?

Ethereum price followed in the footsteps of the largest cryptocurrency by market capitalization, Bitcoin. BTC sprung upwards and for the first time in seven days, stepped above $9,600.

More Ethereum News

Tezos Price Analysis: XTZ breaks out of the triangle pattern on the hourly chart

Tezos has been trading higher on Thursday as most of the crypto majors trade in the black. The price recently converged into a triangle formation making lower high waves and higher low waves.

More Tezos News


Bitcoin Weekly Forecast: BTC bulls are nowhere to be seen

Bitcoin attempted a recovery towards $10,000 but ended up at $9,100. The first digital asset printed the second red candle on a weekly chart. It is an alarming signal for the long-term bull as BTC may be vulnerable to deeper losses.

Read the weekly forecast