An intelligent cross-border transaction system based on consortium blockchain: A case study in Shenzhen, China.

ABSTRACT: Cross-border transactions have been more and more popular around the world. However, the current cross-border transactions still have risks and challenges, e.g., differences in regulation policies and unbalanced profits of banks. To address this critical issue, we construct a new framework for the transaction system with the support of blockchain technology. In this paper, we propose a new consortium blockchain system, namely asymmetric consortium blockchain (ACB), to ensure the implementation of cross-border transactions. Different from traditional consortium blockchain, the new blockchain system could support the supernode to regulate all the transactions timely. Furthermore, the new smart contract is designed to lower the opportunity loss for each node and make the profits allocation sy

SUBMITTER: Fu Z 

PROVIDER: S-EPMC8189446 | biostudies-literature | 2021

REPOSITORIES: biostudies-literature