National Financial and Development Laboratory Zeng Gang: Blockchain solves the problem of trust and settlement

Zeng Gang, deputy director of the National Finance and Development Laboratory, said that the blockchain solved two problems. The first one is the issue of information trust. The biggest problem in the financial industry is to solve information asymmetry. The core function of the blockchain is to solve The issue of trust means that financial institutions can use blockchains in many areas to solve information asymmetry or improve information processing efficiency. The second is the settlement problem. The blockchain supports peer-to-peer transactions. It is a brand new payment system with high efficiency.