Proceedings of the 2022 2nd International Conference on Business Administration and Data Science (BADS 2022)

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A Study on the Challenges and Opportunities of Blockchain Technology Application in Cross-border Payment

Authors
Jiahui Liang1, *, Sisi Luo1
1Guangdong Institute of Science and Technology College of Finance and Economics Dongguan, Guangdong, 523083, Dongguan, China
*Corresponding author. Email: 592497460@qq.com
Corresponding Author
Jiahui Liang
Available Online 29 December 2022.
DOI
10.2991/978-94-6463-102-9_105How to use a DOI?
Keywords
blockchain; cross-border payments; cross-border e-commerce
Abstract

Compared with the traditional foreign trade model, cross-border e-commerce businesses using blockchain technology brings a broader development space for foreign trade. With the booming development of cross-border e-commerce in China, issues such as cross-border payment, cross-border logistics, and product quality have also received attention. The smooth development of cross-border business is inseparable from the efficient development of cross-border payment and cross-border logistics. In terms of traditional cross-border payment methods, payment requires the participation of third-party institutions such as international cooperation organizations, takes a long time, and is costly. The use of blockchain technology's decentralization, information immutability, and openness solves exactly these problems, thus making cross-border payments an efficient and convenient development model that reduces costs, is open and transparent, and can trace the origin of products. This paper analyses the challenges and opportunities of blockchain technology in the field of cross-border payments in the light of the characteristics of blockchain technology, and puts forward effective countermeasures and suggestions.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 2nd International Conference on Business Administration and Data Science (BADS 2022)
Series
Atlantis Highlights in Computer Sciences
Publication Date
29 December 2022
ISBN
10.2991/978-94-6463-102-9_105
ISSN
2589-4900
DOI
10.2991/978-94-6463-102-9_105How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Jiahui Liang
AU  - Sisi Luo
PY  - 2022
DA  - 2022/12/29
TI  - A Study on the Challenges and Opportunities of Blockchain Technology Application in Cross-border Payment
BT  - Proceedings of the 2022 2nd International Conference on Business Administration and Data Science (BADS 2022)
PB  - Atlantis Press
SP  - 1005
EP  - 1017
SN  - 2589-4900
UR  - https://doi.org/10.2991/978-94-6463-102-9_105
DO  - 10.2991/978-94-6463-102-9_105
ID  - Liang2022
ER  -