Exploration and practice of inter-bank application based on blockchain

Abstract

Blockchain is considered as the important technological innovation behind Bitcoin system. It facilitates the transaction payment process by creating a decentralized, general ledger to improve regulatory capacity and remove unnecessary intermediaries. At present, the blockchain technology has been employed in the financial industry for a wide range of experimental application and exploration. In this paper, we firstly analyze the principle architecture and the technical characteristics of blockchain. Then its current research achievements and application scenarios are introduced. Finally, the application of blockchain in China Foreign Exchange Trade System is designed and explored. Combining with the credit matching trading system X-Swap, an inter-bank application based on the blockchain technology is implemented.