Research On The Impact Of Blockchain Technology Application On Trade Finance Innovation

The traditional trade financing method has many problems such as information asymmetry,high transaction cost and risk management.From the perspective of central banks,commercial banks,enterprises and individuals,trade financing in general still has an obvious vertical trend.As blockchain technology is gradually applied to various fields,trade finance is also beginning to experiment with "on-chain".At present,electronic letter of credit,accounts receivable financing and supply chain financing are widely used.The changes of these financing methods overcome the limitations brought by SWIFT to a certain extent.However,no matter product innovation or mode innovation,trade financing innovation still faces many problems such as information security,data transmission,transaction cycle and cost.Therefore,this paper first analyzes the current innovation trend of trade financing products and models,and gives examples of some typical cases to summarize four business models combining blockchain.Starting from the SWIFT letter of credit,build a block chain trade financing underlying logic foundation;Then,the unique characteristics of blockchain,such as trustlessness,decentralization and tamper-proof,are used to match the relationship with the logic of trade financing products and model innovation.Based on the combination of the existing blockchain and trade finance,it will be further promoted in the form of process reengineering.The fifth chapter takes Export-Import Bank factoring E credit as an example to analyze the current practice results and the trend analysis.Finally,it is suggested that the application of block chain technology in trade financing innovation should focus on business improvement,interdisciplinary talent training,technical standard unification and policy supervision.