Bank of China Chuzhou Branch launches cross-border financial blockchain service platform business

According to the "Daily Business Daily" report, the Bank of China Cangzhou Branch successfully handled the first export commercial invoice discount business of Cangzhou City for an export enterprise in Cangzhou City through the blockchain service platform, marking the cross-border financial blockchain service in Cangzhou City. The pilot work of the platform took the lead in the Bank of China. The cross-border financial blockchain platform is led by the State Administration of Foreign Exchange. It uses blockchain technology to reengineer existing trade financing processes, and specifically solves the problem of authenticity of trade background in import and export trade financing business. Low efficiency and high operational risk, helping companies to better solve financing problems.