Application of Blockchain Technology in Financial Field

Blockchain technology has many applications in the financial field. Let me give you a few examples:

The People's Bank of China has launched a blockchain platform for trade financing, which is widely connected with the information of tax, customs, foreign exchange and other departments, effectively enhancing credit and helping SMEs to raise funds.

Guangdong released the first local financial off-site supervision blockchain system in China, which effectively solved the pain point of information asymmetry and unreliability between financial institutions and regulatory agencies under the traditional supervision mode.

State Grid's supply chain financial data sharing platform based on data side chain: it provides conditional trusted service of supply chain financial data under privacy protection, helps small and medium-sized suppliers to revitalize accounts receivable, reduce financing costs and increase financial benefits of financial institutions.

In addition to these, there are other applications. cryptofinance mimacaijing focuses on blockchain information.