Research on the Application of Consortium Blockchain in Electronic Barter Trade

Abstract

Electronic barter trade has achieved transaction upgrading through the Internet, but it confronted with problems such as lack of trust, opaque processes, and difficulty in value matching, which restrict its large-scale development. Consortium blockchain, featuring both decentralization and controllability, has characteristics including immutability, traceability, and smart contracts. These attributes are highly compatible with electronic barter trade in terms of trust building, process optimization, and value circulation, providing ideas for the industry to break through. Focusing on barter as the core, this paper elaborates on the operation mechanism of electronic barter trade based on consortium blockchain, Taking barter credits as the value medium, it undertakes the functions of value measurement, transaction settlement, and asset certificate. Through the full-process automated operations of issuance, circulation, redemption, and cash withdrawal, standardized transactions are realized. Meanwhile, safeguard measures for the application of consortium blockchain are proposed from three aspects: constructing a multi-party collaborative governance system, strengthening technical security guarantees, and improving industry standards and policy support. The aim is to promote the standardized and large-scale development of electronic barter trade and inject vitality into high-quality economic development.