Posted 2 years ago | by Ben Armstrong

China Everbright Bank Partners with Ant Financial for Supply Chain Finance

China Everbright Bank or CEB is a large commercial bank in China and a popular public company. The firm has launched a blockchain which aimed at becoming a supply chain finance solution as a part of a collaboration with Ant Financial.

Ant Financial is one of the financial arms of Chinese e-commerce giant, Alibaba. Ant Financial and CEB formed a partnership to implement a network services platform designed to handle supply chain-related financial transactions, called Duo Chain.

The partnership between CEB and Ant Financial was formed during the second half of 2019.

A local finance-focused publication, Sina Finance, reported recently that CEB was the first Chinese bank to adopt Ant Financial’s Duo Chain. Ant Financial introduced the technology in 2019 to encourage the use of blockchain in supply chain finance.

Ant Financial Likes Blockchain

Supply Chain Finance (SCF) is one of the best areas that blockchain can be used, and also presents an opportunity for tokenized payment systems as well.

All the parties involved in SCF would like to reduce working capital and improve cash flow. SCF offers short-term credit that not only allows buyers to extend their payment terms but also enables suppliers to receive earlier payments.

At present, several companies worldwide are working to increase the transparency of transactions and optimize the cost of credit access. Blockchain-based SCF solutions have been adopted, and seem to be popular with the companies that are using it.

For example, Standard Chartered, has completed a blockchain-based supply chain financing transaction in August 2019. Also, China Shipbuilding Industry Company cooperated with Shanghai Bank to issue a blockchain-based online supply chain finance platform in 2018.

More Developments are Coming

China Everbright Bank expects to improve the security of SCF and eliminate fraudulent transactions by developing Ant Financial’s Duo Chain technology.

Sina reported that the Duo Chain platform allows users to complete identity verification and electronic signatures with CEB, and it also records all the relevant transactions to a distributed ledger for tracking purposes.

CEB also disclosed that the internal and external data management platforms, enterprise credit platforms, and other connected systems are integrated to improve efficiency and quality for its financial services.

Duo Chain is one of many blockchain platforms that are designed to help the logistics sector become more efficient. While there are many competing platforms in the space, over the next few years, there should be some that stand out from the pack, and become industry standards.

About Ben Armstrong

ef4f73e9ddeb61becab57469962fa946?s=90&d=blank&r=g China Everbright Bank Partners with Ant Financial for Supply Chain FinanceBen Armstrong is a YouTuber, podcaster, crypto enthusiast, & creator of Better known as BitBoy Crypto, he works hard to educate and inform the crypto community.

Ben has been involved with the world of cryptocurrency since 2012 when he first invested in Bitcoin. He used Charlie Shrem's BitInstant & lost Bitcoin in the Mt. Gox hack.

In 2018, Ben decided to go "full-time crypto" and focus all of his time and energy into expanding the reach of crypto.

If you have any questions or comments please feel free to email him at or contact him on Twitter @BitBoy_Crypto.