Financial Services Blockchain Consortium (Shenzhen) "FISCO" was founded in 2016 by over 20 financial institutions and technology companies including WeBank, Tencent, Qianhai financial Holdings, Shenzhen Securities Communication, and SF Holdings. In November 2019, FISCO officially registered as a NPO. To date, FISCO has more than 100 members across six major industries - banks, securities, funds, insurance, regional equity exchanges, and technology companies - making it both China's largest blockchain organization and one of the most internationally influential.

An open source working group comprising of FISCO members (WeBank, Tencent, Forms Syntron, Shenzhen Securities Communication, DCITS, YIBI Technology and Ernst & Young among others) was set up to explore the industry need for open source blockchain technologies. Subsequently, FISCO BCOS was launched in 2017 as an open source blockchain development platform that could meet the higher financial industry standards for security and reliability, while remaining easy to use and offering high performance. In 2018 the platform won the Shenzhen Financial Technology Innovation first place prize. In 2019 it was then selected as one of the first-round consortium chain development platforms to join the national blockchain-based service network (BSN).

Today, tens of thousands of individual developers and more than 5,000 institutions and enterprises have joined the FISCO BCOS open source ecosystem. Using FISCO BCOS, over 400 business applications have been implemented across diverse fields such as government affairs, finance, public welfare, copyrights, supply chain, education, etc., which makes it as one of the largest and most active open source consortium chain ecosystem in China.

(1) Integrate and organize research resources for financial blockchain technology.
(2) Establish a joint-force and coordination mechanism for both theoretical and applied research of financial blockchain technology.
(3) Improve the members’ blockchain development capacity, and explore, develop and implement a financial consortium blockchain upon which financial institutions may build use cases.
(4) Establish standards."

The FISCO Member Congress provides the highest level of oversight to FISCO and is responsbile for establishing the Board of Directors as a standing group. The Board of Directors represents the Member Congress by leading daily work during the recess period. The Board of Directors includes the technology committee (hosts business use case topics), standardization committee (hosts the establishment, development, reviewing and publishing of standards), and advisory committee (organizes external experts for technology and standards discussion).