Di Gang of the Central Bank: Blockchain provides new ideas for solving the current pain points of trade financing business

On December 27, "Financial Electronics" released the article "Blockchain Technology to Promote the Reform of Trade Finance Business" by Di Gang, Deputy Director of the Digital Currency Research Institute of the People's Bank of China. The article mentioned that with the rapid growth of demand for trade financial services, traditional trade financing methods have been unable to meet the needs of all parties due to market trust mechanisms, bill authenticity audits, multi-party data sharing, and risk management and control. Chain technology provides new ideas for solving the current pain points of the trade financing business due to its unique features such as tamper-proof data, traceability, real-time sharing of unified ledgers, and multi-party peer collaboration.