New Model Of International Trade Settlement Based On Block Chain Technology Research

Settlement is an important part of international trade.With the increasing of trade volume,more and more problems exposed by backward settlement methods.Such as low settlement efficiency,high settlement cost,large settlement risk,etc.They have become an important factor restricting the development of trade.In recent years,the development of block chain technology has become the focus of financial innovation.Financial institutions began to explore the feasibility of blockchain settlement solutions.Block chain technology has the characteristics of decentralization,tamper-resistant,transparent transaction information and simple process,which can solve the problems in traditional settlement way.With the maturity of technology and the perfection of regulatory system,the settlement of blockchain will bring new breakthroughs to the development of international trade.This paper aims to solve the pain points of the traditional trade settlement method.It points out the problems in the three traditional settlement methods of remittance,collection and letter of credit.First,analyze the feasibility of block chain trade settlement in theory.Then,through the case analysis of Ripple cross-border settlement,from the perspective of practical operation,shows its comparative advantage in settlement efficiency,settlement cost and settlement risk.And expound the operation mechanism and business process of block chain settlement deeply.At last,In view of the current situation of the development of block chain technology,some Suggestions are put forward,such as encouraging technology research and development,establishing legal supervision system,setting industry standard and establishing operation pilot.It provides reference for the development of block chain settlement in China.