Cross border payment cost of blockchain

1. It's a way to solve many formality problems. blockchain is decentralized and transparent. Now many payment channels are studying blockchain technology, maiteng

2. Nengdi
blockchain technology refers to a way for the whole people to participate in bookkeeping. There is a database behind all the systems. You can think of the database as a big ledger. At present, they keep their own accounts.

3. 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.

5. 1. Blockchain in the field of payment: the cost of reconciliation, clearing and settlement between financial institutions, especially cross-border financial institutions, is high, and many manual processes are involved; The application of blockchain technology can rece the cost of reconciliation and dispute resolution between financial institutions, significantly improve the efficiency of the payment field, and make it easier for financial institutions to handle small cross-border payment business, which is concive to the realization of inclusive financial business. 2. In the field of clearing and settlement: different financial institutions have different infrastructure structures and business processes, involving many manual processes, which greatly increases business costs and is prone to errors. The application of blockchain technology, combined with the assets on the chain mentioned in the second point, can complete the point-to-point real-time clearing and settlement, so as to rece the cost of value transfer, shorten the time, improve efficiency, and both sides of the transaction can obtain good privacy protection. 3. Asset management: equity, bonds, bills and other assets are entrusted by different intermediaries, which increases the transaction cost of assets and brings the problem of forged vouchers. With the application of blockchain technology, this kind of assets can be digitized into digital assets on the chain. With the characteristics of irreversibility, non tampering and openness of blockchain, the efficiency of asset transaction can be improved and the cost of asset management can be reced. Because the characteristics of blockchain are irreversible and tamperable, the information is confidential and secure, the point-to-point transaction transmission is decentralized, and the information can be traced reliably; In order to rece intermediate costs and improve efficiency, it is not only used in accounting and auditing, but also can be applied to all walks of life. Now we can see the mode of blockchain cooperation operation from behind the operation of all walks of life. Therefore, blockchain will widely and profoundly change the way of human life, so the whole life service will enter the era of blockchain. In the process of Internet development, blockchain + physical instry, blockchain e-commerce and blockchain community operation can be applied to blockchain technology.

6. Yes, I envy those great gods. I've just entered the pit. I can really earn money, but I don't earn much now. I believe I can become a great God one day. I wish you success

7.

The biggest feature of blockchain technology is decentralization, which will rece a lot of costs for the banking instry

First of all, decentralization means that the trust building mechanism between banking systems no longer needs intermediary, which saves the cost of intermediary

Secondly, the development of digital currency will realize the real-time digital transaction of banks. For example, in bill transaction, bank's bill transaction always relies on the third party to realize the transfer of valuable documents. Even for electronic bill transaction, it also needs the information of central bank's ECDs system for mutual authentication. The blockchain technology can realize the point-to-point value transmission, which no longer needs centralized system control. This not only speeds up the bill transmission speed, but also reces the mistakes caused by human factors. The rection of process will naturally rece the demand of the bank for personnel and save the labor cost of the bank

finally, it will also have an impact on clearing and settlement. The bank's clearing and settlement business has always been completed by the central settlement, with low efficiency. Settlement through blockchain technology will greatly improve the efficiency of banks

blockchain technology also plays an important role in the cross-border payment business of banks. Today, with the highly developed global trade, cross-border payment is becoming more and more frequent. Banks often act as third-party services in cross-border trade, such as electronic transfer, asset custody and so on. However, cross-border payment generally takes about two days to get to the account, which is inefficient and reces the utilization rate of funds in transit. In the blockchain technology, both sides of cross-border payment can complete through the point-to-point way, realize all-weather payment and real-time arrival, thus speeding up the speed of clearing and settlement, and improving the efficiency of bank business processing

another feature of blockchain technology is de risking. Banks can establish their own blockchain, which can ensure that the transaction information and transaction records of bank customers are true and effective, and will not be tampered with arbitrarily. Banks can effectively identify customers' information, understand all aspects of customers' situation, identify abnormal transactions of customers, and prevent being cheated by customers, So as to rece the cost of bank supervision