Yang Dong, Renmin University of China: There are already 13 provinces and municipalities in the blockchain government application, and they fully agree with the Chengdu “supervised sandbox” project.

On November 23, Yang Dong, deputy dean of the Law School of Renmin University of China and director of the blockchain laboratory of Renmin University of China, revealed at the 2019 Tianfu Supervision and Technology Forum that there were 13 applications in the government for blockchain technology. Provinces and cities have landing projects, including Guangdong, Hunan, Jiangsu, Hebei, Fujian, Chongqing, Zhejiang, Shaanxi, Hebei, Guizhou, Shandong, Anhui, and Beijing. For the application of regulatory technology, Yang Dong agrees with the “supervised sandbox” project launched by Chengdu. In his view, technology-driven regulation not only reduces the cost of supervision and data validity, but also realizes a real-time, predictive, top-down, technology-based transparent regulatory system. He also suggested that financial supervision should be based on data-driven, establish a comprehensive and complete data collection system, build a big data analysis and risk warning mechanism, and improve supporting measures.