As we all know, global trade relies too much on manual processes and is therefore inefficient. Blockchain technology has brought a new solution to the problem of global trade. Not only is the immutability of recorded data less trade friction, but its global peer-to-peer network also promotes data sharing. Bringing greater security and efficiency to global trade. But given the current complexity, implementing this technology for trade compliance requires significant changes to the status quo. However, there is still a long way to go to truly implement this technology in international trade.
According to statistics, the total value of goods transported each year is as high as 4 trillion US dollars, of which 80% of daily necessities are transported by sea. If the international supply chain is optimized, global trade will increase by nearly 15%, thereby promoting economic growth and increasing employment opportunities.
The XDCE protocol is an initiative of XinFin.org to build a hybrid blockchain architecture. The agreement aims to eliminate inefficiencies in global trade, finance and enable financial institutions to provide real-time settlement and cross-border smart contracts. The potential of this technology for cross-border payments also prevents money laundering and tax evasion.
At present, the blockchain has become synonymous with hype, and the huge bubble has caused the blockchain to go out of control. But overall, there is an embarrassing situation of inability to supervise. Even some countries, such as South Korea, may close digital currency exchanges to 'handle' crazy blockchain speculation. In this case, we should pay more attention to the value of the blockchain itself, and to transform the industry because of the inefficiency of centralized cooperation.
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