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Blockchain provides major boost to speed of China–Europe rail trade

Blockchain provides major boost to speed of China–Europe 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 China–Europe rail trade route has been subject to a major speed upgrade thanks to the application of blockchain technology, reports China’s People’s 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.

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