Science and Technology Daily: Blockchain technology reduces regulatory costs for cross-border trade companies and improves regulatory efficiency and accuracy

The blockchain platform allows the “view” of the regulatory authorities to run through the entire trade process. The blockchain platform cross-checks the data of each trade link to form a trade that cannot be tampered with time stamps and clear responsible persons. Trusted process data, and the value of real-time process data is much greater than the result data provided by traditional customs brokers. Cross-border trade enterprises have changed from “passive inspection and supervision mode” to “active collection and verification supervision mode”, which greatly reduces supervision costs and improves supervision efficiency and accuracy.