China Business Newspaper: The era of blockchain-assisted trade has arrived

China Business Reporter Suo Hanxue Shanghai Report

Source: China Business News

Editor's Note: The original title is "The era of blockchain power trading has arrived"

The application scenario of blockchain technology was fully imagined at the 2nd China International Import Expo.

On November 6, ICBC announced the use of blockchain technology to independently develop the “Smart Trade Platform” for trade. On November 7, Shanghai Customs, Shanghai Hongqiao Business District Management Committee and Shanghai Commercial Committee launched a joint international trade window based on blockchain technology.

Chen Yulu, deputy governor of the People's Bank of China, also proposed to promote the construction of financial information infrastructure, increase capital investment, strengthen technical support, enable funds to flow safely and efficiently across borders, release the vitality of global financial elements, and promote a more prosperous world economy. development of.

On October 28, before the second China International Import Expo, the “blockchain” sector had a daily limit of 125 stocks.

Li Wei, director of the Science and Technology Department of the People's Bank of China, said that the financial sector can use "the blockchain has such advantages that it cannot be falsified or forged."

The “Smart Trade Platform” launched by ICBC is divided into several parts. Among them, “CEIBS e-Single” closely integrates innovative technologies such as blockchain and API with international logistics rules, and builds a platform for cooperation among governments, banks and enterprises. “China-Africa e-Link” is the first China-Africa digital trade financial service platform jointly developed by ICBC and South Africa Standard Bank based on blockchain technology.

Shanghai's international trade single window is based on the blockchain technology of the international trade single window system through the use of blockchain distribution accounting, shared books, non-tamperable, multi-party verification and other advantages of technical characteristics, for enterprises to reduce data duplication and improve operations Efficiency, and can improve data accuracy and business authenticity through upstream and downstream cross-validation.

The much-watched Shanghai Free Trade Zone Lingang New Area is also an application site for trade using blockchain.

“We will use the blockchain for cross-border trade in the future, and we are currently exploring it.” Wu Wei, deputy director of the Management Committee of Lingang New Area of ​​Shanghai Free Trade Zone, told the China Business News that the parties involved in the discussion "We are also exploring, companies are also exploring."

Blockchain technology will play an important role in cross-border trade and logistics. Payment, settlement, and clearing can be done through blockchain technology, which minimizes the processing fees incurred, while payments are not subject to time constraints and can be paid in real time.

Li Donghui, CFO of Geely Holding Group, also strongly urged: "In the Shanghai Free Trade Zone, the use of financial technology or blockchain technology as soon as possible." He explained:

“The automotive industry is an industry with a particularly long supply chain. It is efficient and safe to pay from every link and every supplier, and it will play a positive role in our production.”

Chen Yulu said at the 2nd China International Import Expo.

"The development of science and technology in the world is changing with each passing day, the digital economy is booming, and the innovation drive has achieved remarkable results. Developing financial technology is the trend of global economic and social development."

The recent policy push has gradually fueled the application of blockchain.

The Political Bureau of the CPC Central Committee conducted the 18th collective study on the status quo and trends of blockchain technology development on the afternoon of October 24.

For a time, the application of blockchain in various fields has produced countless associations.

Alibaba's Ant Financial Service has been conducting research on blockchain for many years.

Ant Xianjin CEO Jing Xiandong said that Ant Financial has been conducting blockchain research for many years, and currently has leading technology and patents, and has applied blockchain to cross-border remittance, supply chain finance, judicial deposit, electronic bills, etc. 40 Multiple scenes. Ant Financial's financial-grade blockchain network has been able to support 1 billion transactions per day for 1 billion accounts.

Although he has mastered strong technology, Jing Xiandong said:

"We don't make virtual currency, don't participate in hype and scams and illegal acts in the pseudo-science of blockchain."

He pointed out that it is necessary to be vigilant and prevent all kinds of air coins and pseudo-innovations in the name of blockchains, just as they said that they were Internet finance when they received a network cable. The biggest resistance to the development of blockchain is that such scammers, only for the crazy cutting of leeks, like cancer cells, will grow wildly. Only by resolutely cracking down on such illegal activities can we falsify the truth and let the real value of the blockchain emerge.

Li Wei said that

"According to the development plan, we must adhere to the principle of security, foster strengths and avoid weaknesses, and maximize the advantages of different technologies. These technologies are not omnipotent in artificial intelligence, big data, and blockchain."

For the blockchain technology that is currently hot, Li Wei also pointed out:

“Although the blockchain has the advantage of being unable to tamper with or forge, the security of the blockchain needs to be studied.”