Li Xiaofeng, former deputy director of the Science and Technology Department of the People's Bank of China: There are currently three levels of problems in the blockchain.

Babbitt reported on April 10 that Li Xiaofeng, former deputy director of the Science and Technology Department of the People's Bank of China, delivered a speech at the CITE2019 China International Blockchain Technology and Application Conference hosted by the Ministry of Industry and Information Technology and the Shenzhen Municipal People's Government. Some problems currently exist in the blockchain: 1. At the technical level, the technology is still immature, and the scalability problem is very prominent; the computing power, bandwidth, and security issues are not optimistic, such as the bandwidth consumption brought by the blockchain broadcast mechanism. 2. There are major technical obstacles in the management coordination level, performance, privacy protection, data security, and cross-chain information exchange between different books. 3. At the standard level, there are still no standards and standards in API, network security, data privacy protection, and cross-chaining of different accounting information.