Research On Settlement Efficiency Of Wuhan Shipping Settlement Center Based On The Blockchain

Wuhan,located in the core position of the middle reaches of the Yangtze River,is an important gateway to promote Midwest of China trading with the world.As the important "economic chassis" of Wuhan,the shipping industry has made great contributions to the local economic,especially since the "Belt and Road" initiative and the "Yangtze River Economic Belt" strategy was proposed,strengthening the development of Wuhan Shipping Center is an important pusher to optimize the linkage between the region along the Belt and Road and the Yangtze Economic Belt.Recent years,Wuhan Shipping Center has developed rapidly and shipping services has further development,but the shipping settlement still fail to meet the needs of Wuhan Shipping Center.The "Master Plan of Wuhan Shipping Center(2017-2035)" released in 2017 proposed the projects of " Bill Wuhan" and "Settlement Wuhan",which aims to build a unified shipping settlement center to promote the completion of Wuhan shipping center.Thus,On the one hand,the construction of Wuhan Shipping Settlement Center is imminent.On the other hand,the trans-temporal nature of shipping and the complex and volatile trade environment make Shipping Settlement Centers face many challenges in terms of settlement mode,settlement cost,and settlement efficiency etc.The new information technologies such as blockchain is urgently needed to optimize shipping transaction and settlement.Therefore,the research on the settlement efficiency of Wuhan Shipping Settlement Center based on the blockchain is of great significance.This essay based on a systematic review of the construction goals and content of the Wuhan Shipping Settlement Center,and the basic principles of the blockchain,combined with the problems that the Shipping Settlement Center intends to solve and the applicable conditions of the blockchain,constructing Wuhan Shipping Settlement Center System based on the blockchain.By centralizing the shipping participants in the unified settlement platform,simplifying the shipping transaction settlement process,the settlement efficiency can be improved.And by opening up the information transmission channels of different system,the shipping data island will be broken.Besides,this paper uses transaction cost theory and information asymmetry theory to explore the impact of blockchain on cost,and further uses bilateral market theory to structure a settlement efficiency model based on the utility of participating entities,the profit of the shipping settlement center and the welfare level of each market.By comparing the welfare level of non-blockchain’s and withblockchain’s Shipping Settlement Center,clarify the impact of blockchain application on the settlement efficiency of Wuhan Shipping Settlement Center.Finally,put forward suggestions to improve the settlement efficiency of Wuhan Shipping Settlement Center based on the blockchainThe conclusion of this paper is as follows:(1)The introduction of blockchain increases the quality of transaction value of participants and improves the profit level of Shipping Settlement Center;(2)Whether or not consider the cost factor of Shipping Settlement Center,the introduction of blockchain increases the overall welfare level of Shipping Settlement Center,that is,improves the settlement efficiency;(3)When considering the cost factor,the extent of improvement of settlement efficiency of blockchain relates with the difference between the marginal costs of two Shipping Settlement Centers.When the marginal cost of nonblockchain’s Shipping Settlement Center fixed,the lower marginal cost of withblockchain’s Wuhan Shipping Settlement Center,the more obvious effect of blockchain on the improvement of settlement efficiency.