Blockchain technology in the field of cross-border paymentapplication research[Abstract] Blockchain is a relatively cutting-edge technology, which can be widely used on the Internet and has a high degree of decentralization. This technology is equivalent to establishing a general distributed ledger on the Internet. Participants can directly transmit information and jointly participate in the confirmation of each transaction node. Moreover, participants are allowed to use encryption algorithms and smart contracts and other technologies to access and operate information in their respective compliance fields, ensuring the security of information flow. At present, the research on blockchain has become a hot spot, and its application scope has been extended to many fields such as commerce, consumption, education, health care, public service, etc., and will be continuously mined and applied with the deepening of the process of economic globalization. [1] Based on the experience of Thyssen Elevator Co., Ltd., this paper will analyze the defects in the traditional cross-border payment industry, reflecting the reasons why the current traditional cross-border payment system needs to be changed. In order to better solve this situation, this paper introduces the blockchain technology. In order to better solve this situation, blockchain technology needs to be introduced. Before analyzing how blockchain technology is applied to cross-border payment, this paper will first introduce some features of blockchain technology to the readers. Through understanding the characteristics of blockchain technology to explore the principle of blockchain in financial transactions, and on this basis, the overall design idea of "blockchain + cross-bord...
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