Zhou Xiaochuan: The application of the blockchain currently being promoted by the People's Bank of China in two low TPS trading markets

Zhou Xiaochuan, former president of the People's Bank of China, said in a special lecture at the Wudaokou Financial College of Tsinghua University in May that the blockchain currently being promoted by the People's Bank of China is used in two low-TPS trading markets: one is bill trading, and the other is letter of credit financing. Transaction. L/C financing is a relatively small market, and counterparties should understand each other and there is not much regulatory necessity. If you do not pay enough attention to and test the stability and reliability of new technologies, it will hurt investors or consumers. For example, although Bitcoin claims to be technically strong, it still has technical flaws and mistakes, resulting in the theft of bitcoin information in Japan, and some customers' bitcoins are missing.