Chinese Banks to Put Credit Blacklist on a Shared Blockchain

The banking arm of Chinese retail giant Suning is testing a consortium blockchain that would allow participating banks to record and update a shared ledger of users with bad credit scores.

According to a local news source Sina Finance on Thursday, Suning Bank developed the blockchain system in order to move its blacklist of suspect borrowers to a distributed database in an effort to allow collaboration with other banks on preventing credit fraud.

Good article on blockchain use, makes sense to me, banks could really use a way to cut down on fraud! I wonder if they'll use a coin in any way....

Read the full article here...
https://www.coindesk.com/chinese-banks-to-put-credit-blacklist-on-a-shared-blockchain/