What are the advantages of blockchain application in cross borde

1. Xu Mingxing is optimistic about the application of blockchain in cross-border payment. Xu Mingxing thinks that blockchain technology will solve many problems in cross-border payment. Traditional cross-border payment needs to go through a number of financial institutions, such as remittance bank, central bank, agent bank, payee bank and so on. To solve cross-border payment based on blockchain technology will save any third-party intermediary link, achieve transaction settlement, and can complete payment very quickly.

3. Because the digital currency, which is the first generation of blockchain technology, has a huge impact on the financial field, the research and application of blockchain technology has become an important task in today's financial field. In essence, blockchain technology still belongs to a kind of technical means and tools. Its application in the financial field and the real economy is parallel. It has its own relative independence, but it also has a certain degree of intersection. That is to say, its role in promoting the real economy is indirect. 1. No matter in finance or entity, one of the bases of transaction between supply and demand is trust. The current bank to enterprise, enterprise to enterprise and enterprise to person are all linked by money. With the further popularization and wide application of blockchain technology, enterprises and enterprises, or indivials can issue digital currency (Digital credit) by themselves in the future, and the status of banks will change from monopoly operation to equal competition operation in the market. Therefore, the wide application of blockchain technology in the financial field has an indirect impact on the real economy. 2. Blockchain technology is the bridge between reality (entity) and virtual world. Through blockchain technology, the real world can be reconstructed, reconstructed and redefined in the virtual world. For example, the digital currency of real paper money in the virtual world, the digital stock transaction of real stock transaction in the virtual world, the digital settlement, digital customs clearance, digital documents and bills of real import and export trade in the virtual world can greatly improve the efficiency of business process and save the transaction cost. At present, all transactions are inseparable from the bank. The bank plays a central role in the transaction. The application of blockchain technology by the bank will certainly improve the efficiency of its settlement and indirectly promote the efficiency of the real economy, but this impact will graally weaken in the future. Because the biggest feature of blockchain technology is decentralization, its distributed accounting system is a network system without center. 3. In fact, the application of blockchain technology is to value and credit the information flowing on the Internet. Through the blockchain, the information with (use value, exchange value, cultural value) in the Internet is reorganized and newly constructed to form a value Internet. It is of great significance. It will bring revolutionary promotion to both the financial instry and the real economy.

4.

Why is the Internet era coming to an end and the blockchain era coming

Once the

blockchain develops, it will burst out more innovation. As the first proct of blockchain, bitcoin has proced many innovations since its birth. For example, small cross-border payment, recording transfer transactions between currencies, recording various stocks, registering housing property rights, recording program codes, etc.

the steam age liberates social proctivity, the electrical age enlivens social cooperation ability, the Internet age connects the world, and the blockchain era will let us truly realize freedom

5. In the world of blockchain, no one can dect the price difference from it. In blockchain payment, customers settle accounts with merchants directly. The merchant's money arrives at the account immediately
this is the meaning of blockchain payment. Let the payment be fairer, let the payment get rid of the middleman's profit margin
there is still a serious problem in traditional payment. Many users have encountered the bad experience of being swiped and dected by the shop assistant several times because of poor signal. At this time, the shop assistant sometimes doesn't admit that he has dected too much money, and the system can't find it. Or the record is deleted by the business, and the rights and interests of users are easily trampled
and blockchain payment, every transaction, can not be tampered with. If the transaction is not successful, it will not be dected, and the business can not tamper with the transaction history. If there is more money dection, it can be seen at a glance, and anyone can view it in the blockchain browser. This is the advantage of blockchain payment.

6.

Although the current blockchain technology is still in the initial stage, the advantages of this technology have begun to be reflected. In many fields, blockchain can proce great value, and I believe there will be more landing application scenarios in the future,

blockchain + cross border payment

at present, the mainstream way of cross-border remittance is wire transfer, and its cycle is generally as long as three to five working days. In addition to certain handling charges, intermediary banks will charge certain handling charges, Swift (Global Interbank Financial Telecommunication Association) will also charge a higher fee for the message exchange of its system. In China, a single fee of 150 yuan will be charged for cross-border remittance through the Bank of China

and the use of blockchain technology allows the remitter and the payee to pay and settle directly, eliminating all intermediate costs, so that cross-border payment and settlement can be completed point-to-point quickly. While improving the speed of settlement, it can also achieve all-weather payment, real-time arrival, simple embodiment and no hidden cost