Blockchain provides major boost to speed of ChinaâEurope rail trade Rail cargos from China to Europe can now be delivered in days instead of months, after a new blockchain system was installed at a major Chinese rail port. 3260 Total views News
The ChinaâEurope rail trade route has been subject to a major speed upgrade thanks to the application of blockchain technology, reports Chinaâs Peopleâs Daily Online.
The Chengdu International Railway Port in Sichuan province was installed with the blockchain-powered Sino-Europe Trade Link 2.0 platform by the Industrial and Commercial Bank of China.
As well as cutting down on time-consuming logistical document checks, the new system will reportedly allow foreign trade companies to raise money directly from the bank to speed up cash flows.