Ezubao, once China’s biggest peer-to-peer (P2P) lending platform, folded in 2016 having collected 59.8 billion yuan (US$8.5 billion) from more than 900,000 investors. Photo: Reuters

China’s blockchain development should learn from P2P lending mistakes, researcher warns

  • A task force will seek to eliminate risks associated with peer-to-peer online lending platforms after the savings of millions of individuals were trapped
  • Blockchain, the technology that underlies bitcoin and other cryptocurrencies, was endorsed by President Xi Jinping last week, leading to an increase in interest
Topic |   China economy

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Ezubao, once China’s biggest peer-to-peer (P2P) lending platform, folded in 2016 having collected 59.8 billion yuan (US$8.5 billion) from more than 900,000 investors. Photo: Reuters
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Frank Tang

Frank Tang

Frank Tang joined the SCMP in 2016 after a decade of China economy coverage and government policy analysis.

Yujing Liu

Yujing Liu

Yujing Liu is a business reporter with a passion for understanding and explaining the fascinating complexities of China’s economy and society. Originally from Beijing, she joined the Post in 2017 after graduating from the University of Hong Kong with a degree in politics and journalism.