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Blockchain URL,China Merchants Bank completes the first domestic blockchain cross-border payment business

Time : 20/03/2022 Author : lcx6jw Click : + -
        Our correspondent (que Mei, Yang Xue) recently, China Merchants Bank initiated the blockchain direct cross-border payment application technology to realize cross-border payment for Nanhai Holding Co., Ltd., a registered enterprise in Qianhai Shekou Free Trade Zone, through Yonglong bank to its account with the same name in Hong Kong, marking the successful landing and application of the first domestic blockchain cross-border project in Qianhai Shekou Free Trade Zone, which is a milestone in the domestic blockchain financial application field. In recent years, financial technology innovation represented by blockchain technology has attracted wide attention. Many financial institutions at home and abroad have been carrying out relevant research and development and attempts, but few projects have actually been implemented. Relying on its own research and development and the dual advantages of China Unicom at home and abroad, China Merchants Bank has built a cross-border direct payment system based on blockchain technology, which marks the realization of China Merchants Bank's blockchain application in the field of global cash management.
 
        The system has the following characteristics: first, it is highly efficient, and the payment time is reduced from minutes to seconds after removing the traditional central forwarding architecture; Second, high security, in a private chain closed network environment, the message is difficult to tamper with and forge; Third, high availability. Failure of any node in the distributed architecture will not affect the operation of the whole system; Fourth, it is highly scalable. New participants can be quickly and easily deployed and added to the system. Qianhai relies on Shenzhen's financial and scientific and technological advantages and industrial foundation, gives full play to the policy advantages of Qianhai's reform and innovation, and supports financial institutions and financial technology enterprises to carry out financial and technological innovation in Qianhai, so as to improve the operational efficiency of the financial system and better serve the development of the real economy.
 
        Next, Qianhai will continue to strengthen its support for Qianhai's financial science and technology projects, explore the establishment of a financial science and technology innovation center, provide various support for Qianhai's financial science and technology innovation projects to connect with the supervision and obtain limited authorization, and stimulate innovation vitality. At the same time, we will strengthen exchanges and cooperation with Hong Kong in the field of financial technology innovation and promote the coordinated development of Shenzhen and Hong Kong financial technology industries.
 
        
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