WORLD'S LARGEST BANK CALLS ETHEREUM "DIGITAL OIL"

WORLD'S LARGEST BANK, $ICBC (01398.HK)$ , CALLS ETHEREUM "DIGITAL OIL"
ICBC: “Ethereum has been continuously upgrading its technology in terms of security, scalability and sustainability, providing technical power for the digital future. In addition, the introduction and development of stablecoins provide a bridge for the digital currency market to connect to the real world.”

ICBC described Ethereum as the “digital oil.” Being Turing-complete and having its own programming language, Solidity, allows developers to deploy complex smart contracts and dApps. This has made Ethereum the mainstay in inventive new fields such as NFTs and DeFi “and is gradually extending to the physical infrastructure network.”