Babbitt reported on the spot that on December 5, the Hainan Free Trade Port Digital Economy and Blockchain International Cooperation Forum officially opened in Haikou. Cai Esheng, chairman of the South-South Cooperation Financial Center and former vice chairman of the China Banking Regulatory Commission, stated in his opening speech that the application of blockchain is an innovative economic model. In terms of improving efficiency and reducing costs, it is promoting social governance and improving the development of public domain services In this regard, it has played a significant role in global economic development. Blockchain will become a force to promote global progress, and it will be fully applied in education, pension, poverty alleviation and food safety. He also paid attention to the initiatives of various countries in participating in the promotion of the development of the blockchain, and the role played by the digital economy, including the blockchain, in developing countries.