Wei Yingning, vice chairman of the former China Insurance Regulatory Commission: the application of blockchain is becoming more diverse, and the scope of application will be more extensive in the future.

According to China News Network, on April 20th, Wei Yingning, the former vice chairman of China Insurance Regulatory Commission and adviser of China Blockchain Application Research Center, said at the 11th Deshengmen Lecture Hall on the theme of “blockchain frontier”. After 10 years of development, the blockchain has functions such as confirming rights, depositing certificates, and traceability, and the application scenarios are increasingly diverse. The blockchain can trace the source of the transaction path and can be used to track the whole process of production and transportation of agricultural products and ensure food safety. The blockchain has only entered China for more than four years, and the scope of application in the future will be more extensive.