Central Bank Di Gang: Blockchain is not suitable for retail payment and other concurrent payment scenarios

Xinhua News Agency reported on November 11 that at the 2019 Trusted Blockchain Summit, Di Gang, deputy director of the Digital Money Institute of the People's Bank of China, said, "You can't catch up with the technology in order to block the chain, and you must correctly understand the blockchain." The application of technology, not all projects need blockchain, nor all data needs to be wound. Blockchain at the expense of synchronous storage and co-calculation of a large amount of redundant data, at the expense of system processing efficiency and partial privacy It is not suitable for high-concurrency payment scenarios such as retail payments, but also for privacy protection of business information and personal data."