A blockchain system for Shanghai 's e - port area has been tested by the Shanghai Municipal Commission of Commerce , Shanghai , and six agencies , including the People 's Bank of China and Bank of Communications , in an attempt to encourage the use of blockchain for global trade . Blockchain has already been successfully introduced in the cross - border yuan trade financing service for Shanghai , according to a customs official . A trial banking system was also tested for cross - border financial services in Nanning , in the autonomous autonomous region of south China .
A blockchain alliance for Shanghai's e-port area has been established by the Shanghai Municipal Commission of Commerce, Shanghai Customs and six banks, including the People's Bank of China and Bank of Communications, in an attempt to encourage the use of blockchain for global trade. Blockchain has already been successfully introduced in the cross-border yuan trade financing service for Shanghai, according to a customs official. A trial blockchain system was also tested for cross-border financial services in Nanning, in the Guangxi autonomous region of south China.