Application of Blockchain Technology in Practical International Technology Trade

Since the reform and opening up, China has maintained rapid economic growth for more than 30 years and has achieved world-renowned achievements. Economic development is inseparable from the promotion of science and technology. Since the new century, competition between countries has developed into a contest between science and technology. As a result, the single tangible goods transaction between international trade in the economic field gradually changes to a diversified direction. The link between international trade and technological change is complementary and mutually reinforcing. Innovative technology is an imperative trend, which can improve the competitiveness of products and make the country dominate in international trade. Therefore, promoting technological progress and enhancing its role in trade has become a top priority. International technology trade is an important way to open up the international market, improve trade structure, and enhance international competitiveness. Blockchain technology will change the production relations and productivity of human society. On the other hand, the principle of blockchain technology solves the problems of trust and agreement, in order to enable unfamiliar nodes on the blockchain to carry out economic activities smoothly, reduce credit fees and transaction costs, and improve production efficiency and production efficiency. In addition, the urgently needed solution in the application of blockchain is to design a corresponding reward mechanism. The value transmitted by the blockchain has the function of benefit distribution belonging to the category of production relations. With the deepening of blockchain applications, the wave of “blockchain+” gradually began. The advantage of blockchain technology is to reduce the risk of settlement and improve settlement efficiency. Finally, in terms of technical level, legal supervision level and industrial standards, provide target proposals for the country to adopt blockchain technology in trade settlement.