December 28, 2016 Dianrong: People to people loans. Blockchain Technology

On 1 December 2016, Dianrong officially announced it is joining one of the world’s biggest blockchain alliances, the Hyperledger Project, making it the first Chinese P2P company to successfully join the project.

A Dianrong spokesperson indicated that this latest development marks a significant step forward for the company in the blockchain industry and denotes its rise to the highest ranks of the blockchain world. Following the implementation of new P2P regulations and the beginning of a wave of reorganization in the industry, Dianrong will continue to explore the financial technology field, to maintain its edge in the industry.

Hyperledger’s sole P2P company from China

Established by the Linux Foundation at the end of 2015, Hyperledger is a project that aims to unite leading companies globally to formulate and establish open, cross-industry, cross-border blockchain technology standards, as well as cost-effective and beneficial blockchain business applications.

Hyperledger’s founding membership is an all-star cast, featuring global IT leaders such as IBM, Intel and JP Morgan, while also counting global financial organizations such as the Chicago Board of Trade and the German Stock Exchange within its ranks.

At present, Hyperledger’s Chinese membership mainly includes communication companies, such as Huawei, as well as the Wanda Network Technology Group, Hang Seng Electronics and other leading domestic companies in the world of online finance.

Hyperledger announced yesterday that it is welcoming a total of six new members, including Dianrong. This will make Dianrong the only P2P company in the Project and will be the only such enterprise among the group’s 22 Chinese members, according to publicly available information.

“Construction of the blockchain infrastructure is now basically complete”

It is no secret that Dianrong, which has secured a place in the top ranks of P2P business, wanted to get involved in blockchain.

In July of this year at the Lendit Summit in Shanghai, Soul Htite, Founder & CEO of Dianrong, announced publicly for the first time that his company would invest USD 30-40 million towards research into blockchain and internet lending technology. He hoped to gather support to solve the problem of trust in internet lending and help more people lend successfully.

Dianrong’s spokesperson commented that blockchain technology allows anonymous transactions to take place between two unfamiliar entities, and can thus be used in the internet lending business. Dianrong is also researching how blockchain technology can be used in the fields of consumer finance, credit lending and contract verification.

On this topic, the spokesperson also revealed in an interview today that Dianrong has completed the construction of its self-controlled blockchain infrastructure. This infrastructure allows other similar companies in the industry, manufacturers and banks among others to join, to share and utilize information on lending, financial trading and asset management.

“We are currently in the process of engaging further with various parties and cooperating partners,” said the spokesperson.