Li Lihui, the leader of the Blockchain Working Group of the China Internet Finance Association and the former President of the Bank of China, said that China's blockchain technology has initially formed, but our underlying technology is still immature, and the bottleneck of large-scale and reliable use has not yet been broken. We have many key, core technologies that depend on foreign countries. There is a technical dependence on foreign countries, which is very dangerous. For example, the original code used by the blockchain is basically not its own. We should vigorously support technological innovation, and strive to be able to master the digital technology. He said that the legal definition of digital assets should be clear, and the nature and validity of digital contracts should be clear. Clarify the norms and regulatory standards of responsible entities and their behaviors in a distributed architecture.