FinTech CreditEase Launches Ethereum-based Blockchain Service
A leading Chinese lender has launched a private blockchain service based on ethereum.
Sina Tech reported that CreditEase debuted its blockchain platform BlockWorm and its first application CreditStorage at its own conference.
BlockWorm is a private blockchain service that could provide multiple service solutions based on smart contract. The company showcased how the platform store and secure blockchain data during the exclusive meeting.
CreditStorage, the first BlockWorm-based application, is a supply chain tool for enterprise businesses. It could store and retrieve data as traditional database do. Besides, it is able to store a complete version of the data history. And now the company is seeking to work with a steel trading platform on integrating the service.
CreditEase tapped into the potential of blockchain in 2016 by establishing a blockchain research lab and investing blockchain startup Circle. Circle raised $60 million in the series D round led by IDG Capital.
Founded in 2006, CreditEase represents a leading FinTech company in China, specializing in wealth management, credit management, microfinance investment, and microcredit loan origination and servicing. It has 50,000 employees across more than 100 cities in China servicing more than 1 million borrowers. Its majority owned subsidiary Yirendai (NYSE: YRD), an online consumer finance marketplace, is listed on the New York Stock Exchange.