Blockchain empowers cross-border e-commerce to create a new pattern of global free trade

The sudden outbreak of the new crown epidemic has more or less affected the survival of enterprises and the development of all walks of life. Especially at present, the global epidemic continues to deteriorate for a long time, and the market impact on cross-border e-commerce is particularly strong. The development of foreign trade and cross-border e-commerce seems to be on the verge of crisis.

But what is the truth? Under the impact of the epidemic, data show that my countrys foreign trade data has achieved positive growth for three months. Overseas sales of home appliances, household appliances, toys, and consumer electronics made in China on the AliExpress platform have all increased by more than 40%, sales of smart TVs have increased by 100% year-on-year, and sales of refrigerators have increased by 700% in the Spanish market. .....

The real data just confirm Nan Huaijins sentence: The essence of a crisis is an opportunity. Finding vitality in a crisis and improving ones own competitiveness in a difficult situation are the current top priorities of the cross-border e-commerce industry.

textThe epidemic will force and promote more traditional cross-border companies to reduce the proportion of traditional sales channels, and shift the main camp to online e-commerce platforms to carry out procurement, sales and marketing activities. With the maturity and positive development of 5G, big data, AI, Internet of Things, blockchain and other related emerging technologies, cross-border e-commerce wants to win opportunities in the future incremental market and embrace new technologies. Empowerment seizes the development opportunity of industry innovation.

How does blockchain technology work in it? Today, Wangchain Technology will discuss how blockchain technology can empower the development of the cross-border e-commerce industry from various aspects and levels.

The Shanzheng issue has always been a top priority for cross-border e-commerce. This is due to the particularity of cross-border commodities. Due to the different quality certification systems for a certain category at home and abroad, genuine foreign products will become substandard products when they enter the country. Furthermore, the goods identified as suspected counterfeit products at domestic counters are not necessarily non-genuine products, but may be genuine products certified in overseas markets. Of course, it is not uncommon for cross-border e-commerce to sell counterfeit and shoddy goods on OEM, which has caused huge losses to consumers.

textThe cross-border e-commerce platform based on the underlying logic of blockchain technology can integrate major business entities in the cross-border e-commerce industry chain, such as: source manufacturers, international transshipment service providers, overseas logistics warehouses, distributors, Enterprises such as seller malls, domestic logistics providers, etc. split their respective product-related information into nodes, and encrypt them with their own keys before entering the chain. Other node subjects need to be authorized to read the corresponding data and cannot modify it, so as to realize efficient sharing and safe storage of data. At the same time, the application of blockchain time stamp technology can establish commodity traceability electronic tags to ensure the safety of commodities from the source.

Based on this, consumers can quickly query the product information, import information, trade information and other detailed content of the product in hand by scanning the traceability code on the product, which not only improves consumer confidence in consumption, but also clarifies the responsibility for product safety, and thoroughly The prevention and control of counterfeit and shoddy goods has promoted the orderly development of the industry.

The 5G era is an era of explosive transformation of the information-enabled industry. As a new factor of production, data is one of the fundamental resources of current enterprises. Due to the virtuality and uncertainty of the network, peoples determination of whether a product is good or bad depends more on the unified rules formulated by the e-commerce platform. For example, users will directly judge whether to buy a certain product based on the evaluation of the product and the reputation level of the store. However, the traditional e-commerce platform is a centralized platform, and the whole system is relatively closed, which makes it easier for bad actors to take advantage of the loopholes in the platform rules, resulting in bad phenomena such as swiping orders and false transactions, and restricting the beneficial development of the industry.

Decentralization is the most direct way to solve these problems. Based on the cross-border e-commerce platform of blockchain technology, the application of smart contracts can enable merchants and customers to conduct point-to-point direct transactions, reduce the special steps of cross-border payment, and use real and transparent transaction data. The decision-making cost of user transactions. The unchangeable data ledger can also become an electronic certificate in the event of a dispute in the future to resolve related legal disputes.

At the same time, the traceable decentralized trusted system also provides data support for the automatic evaluation of stores or products, eliminates the false phenomenon of swiping orders, and provides merchants with the most real and useful user portraits for accurate Marketing has laid a solid foundation and can build a credible ecosystem in which participants in the entire industry chain can empower each other.

Cross-border e-commerce platform for the application of blockchain technology, in addition to business visualization, can also provide the underlying framework of a credible supervision system for the supervision platform, and can also reduce the steps of checking and verifying items or related commodities, and promote trade The safety and fluency of the system are guaranteed to achieve real technological empowerment and a win-win situation in the industrys ecology.

Although cross-border supply chain finance has become the preferred financing method for many cross-border e-commerce companies, cross-border supply chain finance still faces pain points such as data islands formed by independent data storage, which directly makes it difficult for core enterprises to penetrate credit. The problem of small and medium-sized enterprises inhibits the development of the industry. Only by building the trust foundation of the cross-border industrial chain through blockchain technology, starting from the credit certificate, all the data in the industrial chain, such as bills, transaction records, business background, etc., can be truly uploaded to the chain, so as to achieve real-time sharing of information. Using information accuracy and material integrity to support cross-domain credit transmission, reduce the credit risk of capital parties, and then solve the problem of financing difficulties for small and medium-sized cross-border e-commerce companies is the root of blockchain to solve problems.

At the same time, the financing business is fully operated online, and enterprises can inquire about financing approval progress, bank loans and other information anytime and anywhere. This can not only improve efficiency and service experience, solve business financing problems, but also strive for more working capital turnover for enterprises, and realize the expansion and development of business scale.

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