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Bank of Communications Chairman Ren Deqi: Using technologies such as Blockchain to achieve instant cross-border remittance.
According to Mars Finance, Ren Deqi, Chairman of Bank of Communications, stated that the bank is deeply involved in the construction of the Shanghai Shipping and Trade Digital Platform. Firstly, it aims to promote cross-border integration and provide e-commerce companies with safer, more efficient, and convenient “one-stop” financial services for cross-border settlement, financing, and foreign exchange risk management, centered around the needs of shipping and trade customers. Secondly, it aims to promote digital empowerment by utilizing Blockchain technology and artificial intelligence to achieve instant crediting of cross-border remittances, focusing on solving the financing difficulties and high costs faced by small and micro enterprises. Thirdly, it aims to promote ecological co-construction to form an efficient and collaborative ecological support system.