With a series of recent blockchain initiatives – from joining one of the world’s biggest blockchain initiatives Hyperledger Project, to launching “Chained Finance” with Foxconn’s FnConn, China’s peer-to-peer lending marketplace Dianrong is getting ready for full blockchain integration across its platform. We talk to Ling Kong, Dianrong’s CTO on how big and small companies are riding the blockchain wave.

“Technologies that are solving the trust problem face a much bigger challenge compared to those solving the digital currency problem,” Kong says in his opening statement at the blockchain fireside chat at TechCrunch Shenzhen. “Blockchain is solving the trust issue for businesses.”

Blockchain is the technology that underpins cryptocurrencies such as Bitcoin. Simply put, it is a digital, decentralized ledger that keeps a record of all transactions across a peer-to-peer network. Most important, blockchain allows market participants to transfer assets on the internet without centralized, third-party intermediaries, making it the new institutionalized keeper of trust.

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Rita Liao

Telling the uncommon China stories through tech. I can be reached at ritacyliao [at] gmail [dot] com.