Blockchain technology is profoundly transforming the global financial landscape. At the recent Lujiazui Forum, Pan Gongsheng revealed a remarkable development: relying on blockchain and Distributed Ledger technology, cross-border payment models are undergoing unprecedented changes. This technological innovation shortens the international transfer time, which traditionally takes three days, to just 10 seconds, while significantly reducing the handling fee from 6% to 0.6%, posing a strong challenge to the traditional SWIFT payment system.

Data shows that the daily transaction volume of cross-border payments in the Hong Kong test environment has exceeded 8 billion USD, and the on-chain settlement speed has improved to 3,000 transactions per second. The application of smart contract technology has enabled automatic clearing, real-time auditing, and full-chain fund monitoring, putting the traditional banks' long-adopted "T+3" settlement model at risk of being eliminated.

In terms of compliance competition, the digital RMB is steadily expanding its market with advantages such as 100% fiat currency reserves, regular on-chain audits, and backing by central bank credit. This transformation has triggered significant reactions in the market, with data showing that large holders have begun to adjust their digital asset allocation.

With the official establishment of the Digital RMB International Operation Center, we are witnessing a profound transformation in the field of payment technology. Blockchain technology has not only changed the way transactions are conducted but also reshaped the efficiency and transparency standards of financial systems, indicating a new direction for the development of the global payment system in the future. #BTC & ETH