Wan Xiangfeng Hui Li Lihui: Blockchain can penetrate the digital link of financial intermediaries and support digital currency beyond national sovereignty

On September 17, the fifth global summit of blockchain sponsored by Wanxiang Blockchain Lab was officially opened in Shanghai. Li Lihui, former president of the Bank of China, said in his opening speech that the blockchain can increase the digital trust of commercial credit. Compared with traditional commercial credit, digital trust can build low-cost credit benefits, which will reconstruct the credit model and change the credit system. At the same time, the blockchain can also penetrate the digital links of financial intermediaries, which may profoundly impact the intermediary status of finance. The blockchain can support digital currencies that transcend national sovereignty. He believes that Libra seems to have all the features of becoming a trusted institution's digital currency if it can be regulated.