Abstract:
Cross-border commerce is vital to economic growth, and its payment and settlement methods have garnered attention. The current payment settlement method is inefficient, expensive, and insecure. This paper examined blockchain-based payment settlement models. This paper first introduced blockchain, then examined its characteristics, composition, and potential use in cross-border business trade, and finally used Ripple payment settlement mode as a case study. Ripple mode had low time and capital costs, high transaction transparency and security, and simple and convenient processes. The analysis proves the blockchain-based payment settlement mode is reliable and practical.
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