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The application of blockchain technology in financial technology and its innovation to payment systems

Jiahong Zheng


The combination of fintech and blockchain technology is reshaping the future of payment systems and financial services. Blockchain, as a decentralized ledger technology, provides the infrastructure for digital currencies and supports the operation of cryptocurrencies
such as Bitcoin. It not only promotes the development of digital currencies, but also promotes the application of smart contracts to automatically execute contract terms and improve the efficiency of financial transactions. Supply chain finance also realizes the transparency of capital flow and logistics information through the blockchain, shortening the settlement time. In payment systems, the application of blockchain
technology reduces the cost of cross-border payments, improves payment efficiency, and enhances the security of payment systems through
distributed ledgers. This technology has also facilitated innovations in the payments space, such as micropayments and instant payments,
bringing unprecedented convenience to consumers and businesses.


financial technology; Blockchain technology; Payment efficiency

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Included Database


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and Television University, 2020, (04): 70-74.

DOI: http://dx.doi.org/10.18686/fm.v9i2.12447