Chen Yuan, vice chairman of the 12th National Committee of the Chinese People's Political Consultative Conference: Blockchain has potential to play a role in industrial transformation such as supply chain finance

According to the Beijing News, at the first Bund Financial Summit held on October 27th, Chen Yuan, chairman of the summit organizing committee and vice chairman of the 12th National Committee of the Chinese People's Political Consultative Conference, said that blockchain technology has been widely used in many fields. Blockchain technology can improve settlement, clearing efficiency, and reduce transaction costs. Blockchain technology has effectively promoted the innovation and application of digital currency. In the industrial transformation of supply chain finance, medical informationization, and educational resource sharing, blockchain technology has the potential to play a role. Chen Yuan also mentioned that we must also be alert to the safety of new technologies and strengthen the guidance and regulation of new technologies.