Application Research on Blockchain Technology in International Trade Settlement
Hua Zhang · 2023
Payment settlement is a crucial part of international trade, and the expansion of international trade volume will bring certain pressure to settlement, leading to low settlement efficiency and increased settlement risks. In recent years, with the practical application of blockchain technology, international trade settlement models based on blockchain technology have gradually entered the perspective of the financial industry. This article starts from traditional international trade settlement, points out the shortcomings of traditional trade settlement, studies the concept, characteristics, and application scenarios of blockchain, and explores the possibility of blockchain application in international settlement. This article focuses on the drawbacks of traditional payment methods in international trade, explores the feasibility of blockchain based international trade settlement, lists important blockchain platforms used for international trade settlement at the current stage, and elaborates on the entire process of applying blockchain technology in international trade settlement through specific cases. Practice has proven that the application of blockchain in international trade settlement can effectively improve transaction security and efficiency, and reduce settlement costs.