The central bank's trade finance blockchain platform has exceeded 30 billion yuan in foreign exchange payments.

The central bank's trade finance blockchain platform has exceeded 30 billion yuan in foreign exchange payments.

According to the 21st Century Business Herald, on July 4th, Xing Yijing, Party Secretary and President of the Central Bank of Shenzhen Central Bank Branch, said that the central bank's trade finance blockchain platform has been connected to 28 banks in Shenzhen and 483 outlets to operate on the chain. The volume of foreign exchange business has exceeded 30 billion yuan. As a national team in the blockchain field, the central bank's trade finance blockchain platform has been launched on multiple application scenarios. At present, it includes: multi-level financing of supply chain accounts receivable, cross-border financing, international trade account supervision, and external payment tax filing form;

In addition, the micro-pass-through business will also be launched in the near future. In terms of blockchain supervision, the platform provides a regulatory system for trade finance to achieve dynamic and real-time monitoring of various financial activities on the platform. Next, the central bank's trade finance blockchain platform will accelerate ecological construction and nationwide promotion, and is ready to interface with similar platforms such as the Hong Kong Trade Linkage Platform to provide more convenient trade financing services. In the future, the platform will connect to more similar platforms of national and international organizations.

For the blockchain business, Xing Yujing said that in view of the real-time sharing characteristics of the unified ledger in the blockchain technology, the cross-border transaction information is entered at the source of the enterprise, and the information cannot be tampered with. The Bank and the People's Bank of China (the foreign exchange administration) can obtain information and trace it in real time. It eliminates problems such as manual verification, difficult trials, and false transactions.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Restore coin security user information disclosure incident: hacker attack hacker?

According to coindesk today, the person who announced the KYC on the social network yesterday claimed that he did thi...

Market

Buffett regrets missing Google, Amazon, and he will regret the miss of Bitcoin in the future.

On May 5, 2019, Buffett's shareholder meeting was held in his hometown of Omaha! At the conference, he once agai...

Blockchain

Event Review | Secret 19-year Bitcoin skyrocketing truth: Trump Twitter

event The most influential KOL of Digital Passage knows that it is Nakamoto Satoshi and V God, but they are already o...

Blockchain

85% of Bitcoin has been dug up, and it will take 100 years to dig all

On Wednesday, cryptocurrency enthusiasts announced on Twitter that the number of bitcoins dug up has exceeded 17.85 m...

Opinion

ZK State Channels A Better Solution for On-chain MMO Games

For blockchain gaming, horizontal scaling is a suitable solution for single-player games. However, for multiplayer ga...

Blockchain

Buy $ 100 each for the Top 10 projects in early 2019. How much can you earn now?

Source: BlockBeats What is the best investment strategy? When the bear market returned, the Bitcoin price fell again ...