Big events in Bank of China
Recently, Bank of China successfully completed U.S. dollar international remittances between Xiongan, Hebei and Seoul, South Korea for customers through the blockchain cross-border payment system. This is the first international remittance business completed by a domestic commercial bank using a self-developed blockchain payment system. , marking that Bank of China has made significant progress in using blockchain technology in the field of international payments.
little white sister
P804 has been put into mass production, are there any new changes?
Yes I have! The blockchain cross-border payment system independently developed by the Bank of China Software Center has been successfully launched!
Little ape brother
little white sister
certainly! Through the blockchain cross-border payment system, our bank also successfully completed the first international remittance business using blockchain technology for a domestic commercial bank~~
Little ape brother
little white sister
What are the characteristics of the blockchain cross-border payment system?
Based on blockchain distributed data storage, point-to-point transmission, consensus mechanism and other technologies, the encrypted sharing of payment transaction information is realized.
Little ape brother
Therefore, the blockchain cross-border payment system has the advantages of fast remittance speed, good customer experience, and no need for reconciliation. It can greatly improve the fund processing speed, information circulation efficiency, security and transparency of cross-border payment business.
Little ape brother
little white sister
Sounds elegant! Compared with traditional cross-border payment services based on SWIFT, which have shortcomings such as long payment paths, low payment efficiency, and high business processing costs, the blockchain cross-border payment system is simply great!
In addition, other banks, financial institutions and regulatory agencies can also access the Bank of China’s blockchain cross-border payment system through open APIs to jointly establish a blockchain cross-border payment network!
Little ape brother
The official implementation of the blockchain cross-border payment system will further consolidate and enhance Bank of China's cross-border payment and clearing advantages and provide first-class payment and clearing services to global customers.
Written by: Development Five
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