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According to the National Commodity Warehouse Receipt Registration Center (NCWR), China has launched Cangdeng Chain in Shanghai, a blockchain-based warehouse receipt platform, completing its first batch of digitized trades involving non-ferrous metals such as nickel and copper. The platform is built on the China Shipping and Trade Chain and is supported by CMST Development, Bank of Communications, and the National Blockchain Technology Innovation Center. The platform can generate warehouse receipts directly on the blockchain ledger without using a separate database.