In 2016, ZhongChao Blockchain Technology Research Institute undertook the project “Digital Note Trading System based on Digital Currency and Blockchain”, and organized five commercial banks to participate in the development work. Under the unified deployment of the People's Bank of China, the project was led by the Shanghai Commercial Paper Exchange and the Digital Currency Research Institute of the Central Bank. In January 2017, the platform finished development and deployment. Yulu Chen, the deputy governor of the PBoC, highly praised it, said “this is at the forefront of blockchain application over the world. ”

The platform was upgraded for supporting actual note business in the second half of 2017，and then put into an experimental production environment in Shanghai Commercial Paper Exchange in January 2018.

In March 2019, the project "Cross-Border Trade Service Platform",which was led by the State Administration of Foreign Exchange, developed by ZhongChao Blockchain Technology Research Institute entered the pilot phase. Until now, the pilot scope covers 31 provinces, autonomous regions, municipalities and 5 sub-provincial cities where the branches of the State Administration of Foreign Exchange are located, as well as more than 500 pilot banks including the Industrial and Commercial Bank of China, the Agricultural Bank of China, the Bank of China, the China Construction Bank and the Bank of Communications.

The Cross-Border Trade Service Platform applies the technology of "Blockchain-Registry-Open-Platform(BROP)", build a credit ecosystem in the field of cross-border finance by the establishment of end-to-end credible information exchange and effective verification between banks and enterprises, and real-time interaction of trade financing information between banks.

The project has been approved as a Fintech pilot project of the six ministries and commissions which was led by the People's Bank of China. It is the first Reg-Tech project of the ministry blockchain application in China. Also，it is the sole blockchain platform that the central state agency has been recorded in the National Internet Information Office.

In July 2020, the China Securities Regulatory Commission started the pilot of the blockchain registration and depository infrastructure construction for the regional equity market, and identified Beijing, Shanghai, Jiangsu, Zhejiang and Shenzhen as pilot districts. ZhongChao Blockchain Technology Research Institute collaborated with Zhejiang Stock Exchange to build a local chain system for Zhejiang Stock Exchange. The system successfully connected with the CSRC regulatory blockchain on 28th September.

The system innovatively uses the underlying technology of BROP to build a basic platform for equity registration and transaction data operation based on blockchain. As the financial infrastructure of regional equity trading market, the system aims to improve the credibility and accuracy of transaction data, solve problems of data ownership, data privacy, and multi-subject collaboration, explore innovative businesses such as financial and equity services. Next, we will build a new digital equity market business system with blockchain technology, explore in multiple business areas, exploiting advantages of regional equity market, and promote high-quality development of the regional economy.

Under the premise of the existing business rules and regulatory requirements, Zhongchao blockchain platform on financial - judicial collaboration builds an open financial business digital certification management system through the open technical architecture of blockchain, a consensus governance mechanism and a market-oriented operation method , and build a digitalization governance infrastructure.

In 2019, the platform was approved as a fintech pilot project of six ministries which was led by the People’s Bank of China. In addition, we actively explore and implement governance tools for bank-enterprise relations . At present, The Blockchain-based ZhongChao Clearing (Bankruptcy) System has provided full-process intelligent information services for more than 180 bankruptcy cases in Zhejiang Province, covering all municipal courts in the province, and the total amount of declared creditor's rights nearly 117.6 billion Yuan. At the same time, it also actively cooperates with multiple entities to jointly promote the solution of P2P loan disposal, private equity default disposal and other system tools, helping speed up the clearing and the disposal of financial risks.

In the future, the platform will take infrastructure construction as the starting point, multiple collaboration as the core, innovative application and exploration as the advantage, social and financial dispute resolution as the cornerstone, make a coordinated resolution and governance mechanism and create a sound social business environment.