Research on Cross border Payment System Based on Blockchain: Efficiency Improvement and Cost Optimization
Abstract
improve the payment efficiency and optimize the cost. Traditional cross-border payment systems face high fees, long processing time and low
transparency, which limits the convenience of global financial transactions. Blockchain, as a distributed ledger technology, has the characteristics of decentralization, high transparency and imtamability, providing a new solution for cross-border payment. This paper analyzes the
advantages of blockchain in the cross-border payment process. Through real-time settlement, disintermediation and efficient data processing,
the operation efficiency of the system is greatly improved and the transaction cost is reduced. At the same time, this paper also discusses the
practical application cases and challenges of blockchain technology in the payment system, in order to provide theoretical support and practical guidance for the future development of cross-border payment system.
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DOI: http://dx.doi.org/10.18686/fm.v10i1.13923
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