In recent years, cross-border e-commerce has developed strongly as an emerging business format and has become an important pillar of my country's foreign trade economic growth. Especially since the beginning of 2020, the foreign trade economy, which was already under pressure, suddenly encountered a global epidemic, causing heavy losses to general trade. Relying on the current logistics system, cross-border e-commerce has broken physical space barriers, demonstrated unique development advantages, and achieved growth against the trend. Customs data from the National Bureau of Statistics in 2020 show that my country’s cross-border e-commerce import and export total was 1.69 trillion yuan, an increase of 31.10% over the previous year. Cross-border e-commerce meets the needs of trading entities to "buy globally and sell globally" and complies with the needs of modern social and economic development, thus becoming an important area of foreign trade competition for various countries.
As an emerging technology that solves the cost of trust, blockchain technology is highly consistent with the regulatory needs of cross-border e-commerce. The immutability provided by blockchain technology allows cross-border e-commerce service providers to improve their service capabilities. Xingqihang has taken advantage of the technology and has achieved all-round improvements in services. At the same time, as a kind of digital technology, blockchain technology canrealize the full-process supervision of cross-border e-commerce, improve service capabilities and supervision levels, and help Development of cross-border e-commerce industry.
Blockchain is one of the most eye-catching emerging technologies in recent years. Its essence is to use technical means to effectively solve the trust problem, with a wide range of application scenarios. At present, blockchain technology has relatively mature project practices indigital currency, government services, electronic invoices, supply chain and other fields. In the field of cross-border e-commerce, blockchain technology is mainly used in the supply chain. Sellers can use this technology to find trustworthy suppliers.