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Bank of China patents a new solution for scaling blockchain

The Bank of China, which should not be confused with the People’s Bank of China, the central bank of the country, has applied for a patent for a new solution to the problems of scaling blockage to the State Intellectual Property Office of China (SIPO).

The solution contains a new method of data compression in a block system that solves the problem of the amount of memory in new blocks without affecting the tracking of transactions and the invariability of the code.

Despite the fact that China is one of the most tough countries in the world in terms of Cryptocurrency regulation, which banned the initial circulation of coins (ICO) and interaction with foreign exchanges, the South Korean finance minister said at the beginning of the month about the need for cooperation with China in the field of detachment, the head of the People’s Bank of China.

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