According to reports, it was learned from the 178th banking industry routine press conference: As of July 26 this year, Bank of Communications has issued a total of 20 blockchain domestic letters of credit with a total amount of 156 million yuan.
The Bank of Communications stated that, for a long time, domestic letter of credit transactions have to go through a number of banks and express service providers such as issuing banks, advising banks, presenting banks, and negotiating banks. Each institution completes records in its own accounting system. The information is isolated and opaque, and the document processing has many problems such as difficulty in authenticity verification, low processing efficiency, easy delay, and easy loss.
In April 2018, the Bank of Communications' blockchain domestic letter of credit project was put into production, which realized the end-to-end transmission of information and documents, reduced the intermediate links of document mailing, greatly improved the transaction speed under domestic letters of credit, and greatly reduced transaction costs. .
It was reported on August 10 that the Shenzhen International Trade Revolving Restaurant issued the country’s first blockchain electronic invoice on August 10, announcing that Shenzhen has become the first pilot city for blockchain electronic invoices in the country, which also means that the tax payment service officially opens the blockchain. era.
It is reported that the blockchain electronic invoice launched this time is led by the Shenzhen Taxation Bureau, and Tencent provides the underlying technology and capabilities, and has been approved and recognized by the State Administration of Taxation.
Using blockchain electronic invoices, companies can apply for invoices, issue invoices, check, and enter accounts on the blockchain; users can achieve storage, circulation, and reimbursement on the chain; and for tax regulators and tax bureaus of management , It can achieve the technological innovation of the whole process supervision and realize the paperless intelligent tax management.
Prior to this, according to a report on May 25, Bank of Communications successfully processed the first domestic letter of credit on a blockchain, marking another positive step taken by Bank of Communications in the field of financial technology innovation and service to the real economy.
It is reported that the Bank of China applied blockchain technology innovation to the field of domestic letters of credit, which has three notable features:
First, to achieve "information within seconds." The traditional mailing method of domestic letters of credit has been changed, and the transmission efficiency has been improved;
Second, reduce the risk of fraud. Based on the non-tamperable characteristics of the blockchain, it effectively solves the problem of information authenticity, greatly reduces processing costs and reduces operational risks;
Third, the whole process of business tracking. Utilizing the traceability feature of the blockchain, the buyer and seller's banks can monitor and track the whole process of domestic letter of credit issuance, notification, and presentation.
In addition, Shen Rujun introduced that in terms of big data applications, as early as 2010, the Bank of Communications actively deployed a big data development strategy and launched a group-wide integration system reconstruction project at home and abroad. Relying on the results of data integration, Bank of Communications insists on "using data to serve business and using analysis to create value", and continuously enriches big data application scenarios from two levels of customer service and internal operation and management.
In the application of mobile internet technology, Bank of Communications actively complied with the structural reforms on the supply side, focusing on building two APP platforms: mobile banking and “pay itâ€, enhancing online business operations capabilities, digging in-depth customer demand scenarios, and deploying full-time, global, Full-scenario financial services. Bank of Communications' mobile banking users maintained strong growth. In 2017, the number of registered mobile banking customers increased by 10.9 million, and the total number of customers reached 61.06 million, a year-on-year increase of 22%.
In the application of artificial intelligence, Bank of Communications is actively exploring the application touchpoints of artificial intelligence and banking business, with customer experience as the core, using artificial intelligence technologies such as intelligent perception, intelligent cognition, and intelligent decision-making to promote banking services and operations from an omni-channel perspective Intelligent transformation of the process field.
It is worth noting that the China Blockchain Technology Innovation and Development Forum was held in Beijing on June 2. Li Lihui, former president of the Bank of China and leader of the blockchain working group of the China Internet Finance Association, delivered a keynote speech at the forum, saying that sustainable financial technology development should be brave to innovate and good at change without touching the bottom line of financial security.
He said that the blockchain can embed corresponding programming scripts through "consensus negotiation" and programmed "smart contracts", thereby realizing the pertinence and screening of value exchange, as well as the restriction and conditionality of value exchange, and realizing value Specific purpose.
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