Nobel Laureate in Economics Sargent: China is ahead of others in areas such as artificial intelligence and digital currencies

According to the 21st Century Business Herald, on December 5, 2019 at the Southern Forum of International Finance and Economics, Thomas Sargent, the 2011 Nobel laureate in economics and professor of economics at New York University, stated that in artificial intelligence, blockchain technology and digital At present, China is in a relatively leading position in innovation fields such as currency. He pointed out that from the perspective of traditional economics, China has a very large market size and volume, but earlier there were risks of high transportation, communication and communication costs, and failure to perform in the course of commercial transactions. Through blockchain technology, the problems of communication and transportation costs can be effectively solved. If these problems are solved, AI and blockchain technology must be encouraged. For example, to achieve security and anti-theft, anti-counterfeiting, people often create counterfeit currency when managing the currency system. Governments of various countries have also made corresponding countermeasures. Blockchain technology has certain and permanent characteristics. Thomas Sargent said: "These technologies cannot be changed. They use unique cryptographic algorithms to record unique facts without ambiguity and are very accurate."