Person in charge of Zheshang Bank Guangzhou Branch: Blockchain will be widely used in the financial industry

According to i Dongguan news, on December 3, the Dongguan Private Equity Association and Zhejiang Commercial Bank Dongguan Branch co-hosted a "Blockchain Application Scenario Sharing Session in the Banking Industry." At the meeting, the person in charge of Zheshang Bank Guangzhou Branch stated that the decentralization of blockchain, smart contracts, and non-tampering characteristics determine that it will be widely used in the financial industry. For example, helping companies to solve the problem of accounts receivable in the supply chain is the most direct application of blockchain technology in the economic and financial field. In revitalizing corporate accounts receivable, the traditional factoring model faces a variety of difficulties, including the difficulty of distinguishing the authenticity of corporate accounts receivable and the uncertainty of return. The non-tamperable nature of the blockchain can solve the problem of authenticity of accounts receivable, and the smart contract technology of the blockchain can achieve active performance, thereby solving the difficulty of receivables repayment.