Pudong Pan Weidong: Using blockchain to achieve cross-border payment and trade financing settlement, higher credibility and efficiency

According to the news, on October 29th, the Sino-British Financial Technology Summit Forum (2019) was held in Shanghai. Pan Weidong, executive director and deputy governor of Shanghai Pudong Development Bank, delivered a keynote speech at the forum, saying that the banking industry has always been a pioneer in the application of advanced technology. Finance and technology are symbiotic development relations, and have experienced electronic, information, network, and mobile. Into the digital stage, the modern financial system has experienced exponential growth along with information technology. The banking industry must keep up with the wave of technological development, actively embrace financial technology, and improve the level of financial services. He said that the use of blockchain technology to achieve cross-border payment and trade financing settlement, credibility and efficiency, to replace the original information sharing and payment model.