The Research Of Impact Of Block Chain Technology On Commercial Bank's Trade Finance Business

Block chain,as an emerging technology solution,can effectively improve the efficiency of value exchange and reduce transaction costs.It has many advantages,such as establishing Point-to-Point trust in the network,Removing mediation interference during value transfer.It can both disclose information and protect privacy,making joint decisions and protecting individual interests.Block chain technology has the characteristics of decentralization,de-trust,scalability,anonymity,security and reliability,and has high application value in many fields.Since 2016,block chain technology has developed rapidly in many fields such as governments,financial institutions,and internet companies.It is believed that Block chain technology will become the fourth technological revolution after the steam technology revolution,the power technology revolution,and the computer and information technology revolution.This paper takes the impact of block chain technology on commercial bank's trade finance business as study object,and analyzes that great changes will take place in supply chain finance,cross-border payment and settlement,and trade financing of commercial Banks in the field of trade finance under the transmission mechanism of block chain technology.The use of the block chain consensus mechanism technology between supply chain finance core enterprises and their upstream and downstream companies can establish data sharing.With the support of block chain technology,financial institutions can obtain real information from SME and provide financing for them,which can fundamentally solve the financing difficulties of SME.Using block chain distributed ledger technology to upgrade existing cross-border settlement systems of commercial banks can solve two problems that are low efficiency and high cost in the field of cross-border payment and settlement.Digital bill business,based on the characteristics of tamper-proof and full-network visibility of block chain technology,can solve the frequent occurrence of bill risk cases in the current commercial banks and handle the bill business for companies with a real trading background.Finally,the outlook will be very broad that the technical characteristics of block chain technology such as decentralization,deintermediation,and historical information traceability in information storage are applied to commercial bank supply chain finance,cross-'border payment settlement,and trade finance.Based on the successful cases about commercial banks in using block chain technology,this paper proposes that traditional business model of commercial banks should be combined with block chain technology and banks should promote the application of block chain technology on trade finance business.