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When International Trade Meets Blockchain

- Mar 09, 2018 -

Bp joint such as Italy's eni group to carry out chain gas deal, sinochem group use the block chain technology for crude oil from the Middle East to China business deals, American soybean cargoes shipped to China through trade block chain is complete...In the past two years, the international trade market in the frequency of the block chain technology.

The block chain has the characteristics of trust consensus, immovable information and openness. It is suitable for the business situations where the two parties need highly mutual trust.Zhao Zengkui Shanghai research institute of Chinese academy of social sciences expert thinks, cross-border payment based on the block chain mode, compared with the traditional wire transfer payment, made full use of the advantages of the technique of block chain, in between the two parties directly paid for point-to-point, participation payment verification, to reduce the risk of cross-border payments, improve the efficiency of cross-border payments, savings Banks have obvious advantages in resources, etc.

"How to use blockchain technology to solve cross-border payment problems, especially the development of small cross-border payments, will be the focus of international trade in the future."Lin zhiyong, director of the new light digital trade research institute, said the application of blockchain technology in international trade has only just begun.In the future, international trade will usher in more changes around specific application scenarios.

In China, the block chain has been written into China's 13th five-year plan, which has played an active role in many fields, including finance, regulation and counterfeiting, and has received high attention from all parties.

"The rapid development of block chain technology in China is based on its two core values: information transparency and non-tampering."Renowned economist Song Qinghui in an interview with the China trade news reporter said that overall, China's regulators to block chain, with tolerance and support technology in the system construction, technology research and development into a big power, the future will be extensive and positive influence, block chain and has the potential to be an "Internet +".But a revolutionary technology will be able to benefit the masses, and everyone in the industry can apply it to the blockchain.If blockchain is only applicable to high-value asset transactions, it will limit the widespread use of blockchain technology in the real economy.

Song Qinghui thinks, our country enterprise "going out" using the block chain technology, help to improve China's voice in the field of global economy, but also should pay attention to block chain technology users execute anonymous transactions such as holes, which will bring challenge to the government to carry out the supervision measures.

It is understood that the relevant departments of our country are actively developing the block chain international standards and national standards, and constantly making Chinese voices on the international level."This will give international companies a positive role in the use of blockchain technology to complement each other."Song qinghui said.

The blockchain technology is behind the creation of great value, and there are some risks that cannot be ignored.Song qinghui pointed out that although blockchain is regarded as the key of the next generation technology revolution, the block chain technology still has many imperfect places, such as the consensus mechanism of block chain technology.In general, the emergence of blockchain technology will bring positive changes to food traceability, financial innovation and other related fields, but at the same time, it also faces policy risks.

Compared with the international and domestic authoritative standard is still a blank in the field of block chain, industry development present fragmentation, industry application has certain blindness, is not conducive to block the application fall to the ground and the technical development of chain.

"At present, the blockchain has become synonymous with the 'Fried coin', and the accumulation of bubbles makes the blockchain go out of control.In this case, all countries to strengthen regulation, but in general, there are weak supervision of the embarrassing situation, and even in some countries, such as South Korea, may close the digital currency exchange, to "deal with" crazy block chain hype.""Song said.

"At present, the blockchain technology is not mature enough, and the application scenario is limited, so we should be aware of the concept of capital market speculation."Traffic bank financial research center, a senior researcher at He Fei said the chain block behind the boom will inevitably have some stunt like to speculation the company, they are not real, just trying to go to the capital markets well, appear to guard against the "bad money after bad money" phenomenon, lead to exit the market really want to do business organization, the application of the impact block chain technology.

The personage inside course of study thinks, although the current block chain technology has many imperfections, but with the improvement of technology and the concept of the future, block chain technology will be more deeply into the global cross-border trade system, accelerate the further development of cross-border trade in the world.


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