As one of the most concerned financial technologies，blockchain technology has the characteristics of distributed accounting，high security，non-destructive and traceable data，which can help to improve the transparency of the commercial paper market and defend against risk. The Shanghai Commercial Paper Exchange pays constant attention to the research and application of financial technologies，and attaches great importance to and actively promote the construction of digital commercial paper trading platform based on blockchain technology. At the end of December 2016，the prototype system of digital commercial paper trading platform was completed，and the experimental production system of digital commercial paper trading platform was completed by the end of January 2018. This paper outlines the characteristics of blockchain technology and the background，system construction，innovation，technical framework and application prospect of constructing a digital commercial paper trading platform based on blockchain technology.