Ba Shusong: Blockchain technology can strengthen trust relationships for the financial industry and achieve cross-ecological win-win

On September 11th, Ba Shusong, chief economist of the China Banking Association and chief Chinese economist of the Hong Kong Stock Exchange, said that in the Chinese financial system, after a period of exploration, the attitude of the regulators to the blockchain appeared. A clear policy tone: on the one hand, resolutely crack down on illegal fundraising activities in the name of virtual currency, cryptocurrency, and first-time token issuance (ICO). On the other hand, affirming the potential of blockchain technology as an emerging technology, encourages and regulates the development of blockchain technology. The application value of blockchain technology for the financial industry is mainly in the following aspects: 1. Strengthening the trust relationship by changing the “self-certification” to “the other”; 2. Ecological integration to achieve a cross-ecological win-win situation.