Huang Zhongyi, assistant dean of the CCID Blockchain Research Institute of the Ministry of Industry and Information Technology, said that blockchain technology has a broad application prospect and has advantages in government services, electronic certificate deposits, and cross-border payments. For example, in the field of cross-border payment, for example, in terms of time, traditional cross-border remittances take 10 minutes or several days, while blockchain cross-border remittances can be remitted in seconds due to decentralization. In terms of convenience, traditional cross-border remittances need to wait until the next day to transfer money after 19:00, while blockchain cross-border remittances require only a mobile phone to achieve round-the-clock remittances. In terms of cost, traditional cross-border remittances involve various intermediaries such as third parties. It is difficult to avoid high fees and exchange rates. Blockchain cross-border remittances have greatly reduced transaction costs because there are no third-party agencies.