Ba Shusong: The blockchain service entity economy is the fundamental direction

On November 5th, on the second day of the China-Singapore Financial Summit, Ba Shusong, chief economist of the China Banking Association and executive director of the HSBC Financial Research Institute of Peking University, discussed his views on the recent hot blockchain. Ba Shusong said that blockchain technology has always been hailed as a kind of trust machine, but in the past, the formulation of trust relationship has stayed at the technical level. In fact, blockchain technology can also be combined with financial business scenarios to help investors and financial institutions better identify or circumvent risks at the business level. In addition, Ba Shusong believes that there are more applications in the field of credit reporting. For the large-scale investment and development of blockchains in domestic enterprises, Ba Shusong said that the development of blockchain must serve the real economy. This is the fundamental direction of its development. It is necessary to be alert to the speculation of virtual currency and digital currency.