According to Jiefang Daily, under the joint promotion of China's Baowu, the Central Bank's Digital Currency Research Institute and Tongji University, the steel industry, the most basic traditional industrial field, took the lead in the large-scale application of blockchain technology. Since the beginning of this year, more than 1,000 small and medium-sized enterprises on the national steel industry chain have enjoyed blockchain innovation services from Shanghai, with financing costs as low as 4.35%. "The smallest amount of corporate financing is only 3,800 yuan, which is completed on the same day. This is unimaginable in traditional financial services." Financial industry believes that after the application of blockchain technology, it is expected to simultaneously solve the difficulty of financing small and medium-sized enterprises in the steel industry and the difficulty of bank risk control. 3. Three major difficulties in department supervision.