A Study on the Challenges and Opportunities of Blockchain Technology Application in Cross-border Payment
- DOI
- 10.2991/978-94-6463-102-9_105How to use a DOI?
- Keywords
- blockchain; cross-border payments; cross-border e-commerce
- Abstract
Compared with the traditional foreign trade model, cross-border e-commerce businesses using blockchain technology brings a broader development space for foreign trade. With the booming development of cross-border e-commerce in China, issues such as cross-border payment, cross-border logistics, and product quality have also received attention. The smooth development of cross-border business is inseparable from the efficient development of cross-border payment and cross-border logistics. In terms of traditional cross-border payment methods, payment requires the participation of third-party institutions such as international cooperation organizations, takes a long time, and is costly. The use of blockchain technology's decentralization, information immutability, and openness solves exactly these problems, thus making cross-border payments an efficient and convenient development model that reduces costs, is open and transparent, and can trace the origin of products. This paper analyses the challenges and opportunities of blockchain technology in the field of cross-border payments in the light of the characteristics of blockchain technology, and puts forward effective countermeasures and suggestions.
- Copyright
- © 2023 The Author(s)
- Open Access
- Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.
Cite this article
TY - CONF AU - Jiahui Liang AU - Sisi Luo PY - 2022 DA - 2022/12/29 TI - A Study on the Challenges and Opportunities of Blockchain Technology Application in Cross-border Payment BT - Proceedings of the 2022 2nd International Conference on Business Administration and Data Science (BADS 2022) PB - Atlantis Press SP - 1005 EP - 1017 SN - 2589-4900 UR - https://doi.org/10.2991/978-94-6463-102-9_105 DO - 10.2991/978-94-6463-102-9_105 ID - Liang2022 ER -