News Blockchain solves trade authentication, financing issues: Shanghai regulators

Blockchain solves trade authentication, financing issues: Shanghai regulators

-

- Advertisment -

SHANGHAI (Reuters) – The use of blockchain technology solves the issue of information asymmetry in trade finance and the core problem of providing proof of trade authenticity, the Shanghai headquarters of the People’s Bank of China (PBOC) and the city’s commerce commission said in a statement on Thursday.

Blockchain technology effectively reduces financing risks for financial institutions, and lowers financing costs for importers and exporters, the statement said.

(This story refiles to clarify sourcing was from joint statement)

Source

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

4 Tips on How To Succeed on Bitcoin Trading

Bitcoin is a type of cryptocurrency which has grabbed the attention of countless people from different countries....

The First Cryptocurrency Bank License Is Now Granted

This is a historic development. A milestone in Bitcoin's path to broad acceptance and recognition. The State...

Yield Farming Program “Volcano” Kicks off Dutch Auction for Cryptokitties KittieFIGHT Game

In the fall of 2017, along with the rallying of Bitcoin and other digital assets, Cryptokitties dominated...

Ministry of Foreign Affairs of Denmark may use Blockchain to tackle corruption

We have already moved to the stage in our lives where technology plays an important role in...
- Advertisement -

What Lessons Can The World Learn From Venezuela’s Newfound Love For Crypto?

It is often the case that great changes are forced out of necessity, rather than a willingness...

How Bitcoin Capitalization Affected In 2020 on the Quarantine Background

Although the weeks of quarantining are gradually easing off, the impact of dealing with the deadly coronavirus...

Must read

4 Tips on How To Succeed on Bitcoin Trading

Bitcoin is a type of cryptocurrency which...

The First Cryptocurrency Bank License Is Now Granted

This is a historic development. A milestone...
- Advertisement -

Read Next
Recommended to you