Managing Director of Yunxiang Blockchain: Banks can use blockchain as a basis for credit control

On October 28th, the managing director of Yunxiang Blockchain said in an interview recently that in China, the application of blockchain is mainly in the financial sector, and the application cases account for more than 80%, mainly electronic contracts and cross-border payments. , credit in trade finance, and applications such as supply chain finance and asset securitization around core companies. Deng Xu believes that in terms of risk control, banks are most concerned about the three dimensions of data, namely, the legality of data compliance, transaction authenticity and data third-party verifiable. If the supply chain system applies blockchain technology and cooperates with certain offline operation management, the above three problems can be solved, and the bank can use it as the basis for credit control. In terms of departmental supervision, the regulatory body can be regarded as a node. The regulatory department can see abnormal transactions in real time, and can turn post-event supervision into in-process supervision or prior supervision.