Researcher at Minsheng Bank Research Institute: Banks should actively embrace blockchain technology

On November 2nd, China Securities Journal published the article of Guo Xiaotong, a researcher of Minsheng Bank Research Institute, “Multiple efforts to promote the integration of blockchain and financial depth”. The article stated that the current blockchain is better in foreign countries, and the more mature applications are mainly It is also a digital currency, and the domestic market is mainly concentrated in the industries of finance, trade, medical care, supply chain management, charity, and public management. Among them, the application of the financial sector accounted for more than 80% of the cases, mainly in electronic contracts, cross-border payments, credit in trade finance, and applications such as supply chain finance and asset securitization around core enterprises. In terms of financial inclusion, the blockchain also has a lot of room for display. Banks should actively embrace blockchain technology. The first is to integrate blockchain technology into the digital transformation strategy of banks. The second is to promote the deep integration of blockchain technology and the real economy, to solve the problem of financing difficulties for SMEs, difficult market control, and difficult department supervision. The third is to attach importance to the work of technical talent reserve. At the same time, it is necessary to thoroughly study the applicability and safety of new technologies. It is also feasible to build a banking blockchain ecosystem in China. First, the regulatory agencies have taken the lead in building a banking blockchain ecosystem. Second, the banking institutions take the initiative to undertake or participate in the construction of the blockchain ecosystem. The third is to build a blockchain ecosystem based on industry associations or existing alliances.