China launches first blockchain transferable electronic warehouse receipt in Shanghai

Summary

On 8-9 July, China's first blockchain-based transferable electronic warehouse receipt went live in Shanghai via the 'Warehouse Registration Chain' (Cangdeng Chain) built on the national blockchain. Backed by the national commodities warehouse receipt registry, CITIC and Wurin metal firms registered nickel and copper receipts, enabling tamper-proof lifecycle tracking and cutting double-pledge fraud risk.