Blockchain technology resolves many issues surround information asymmetry in trade finance: PBOC

China is increadingly positioning blockchain technology as a foundational fintech platform.

On Thursday, in a statement, the Shanghai headquarters of the People’s Bank of China (PBOC) stated the usage of blockchain technology solves many of the issue revolving around information asymmetry in trade finance and the core problem of providing proof of trade authenticity.

Its statement goes on to read, “blockchain technology effectively reduces financing risks for financial institutions, and lowers financing costs for importers and exporters”.

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