Application of Block Chain to Russian Cross-border Payment Financial Platform

Abstract

At present, the rapid development of the Russian e-commerce market and our policy support for cross-border e-commerce have made cross-border electronic commerce a new model for China-Russian economic and trade cooperation, which has greatly promoted the rapid growth of China-Russian trade. However, there are some shortcomings in the payment of cross-border e-commerce to Russia, such as long time consuming, high handling fee, long intermediate link, and so on. Therefore, how to reduce the settlement risk and reduce transaction cost in crossborder payment has become an urgent problem. The application of regional chain technology to cross-border payment will help solve this problem.