Li Lihui: It is necessary to establish a digital financial innovation sandbox experimental system and explore a new model of digital financial business supervision

The 3rd China Internet Finance Forum 2019 with the theme of "Financial Technology to Facilitate the Construction of a Modern Financial System" was held in Beijing today. Li Lihui, the leader of the Blockchain Research Working Group of the China Internet Finance Association and the former President of the Bank of China, attended the event and published the theme Speech. Li Lihui believes that the application of blockchain technology has extended to many fields such as digital finance, the Internet of Things, intelligent manufacturing, supply chain management, and digital assets. Talking about how to evaluate the current status of blockchain technology and industrial development, he believes that the underlying technology of the blockchain is not yet mature, and the technical bottlenecks of large-scale and reliable applications need to be broken. It is currently in the period of great opportunities for the development of blockchain technology and industrial innovation. In Li Lihui's opinion, it is necessary to establish a sandbox experiment system for digital financial innovation, and actively explore new models and new regulations for digital financial business supervision. In the construction of digital finance, we should actively participate in and strive for the right to speak and dominate the relevant international rules and standards, strengthen international regulatory coordination, promote regulatory consensus, and establish uniform international financial regulatory standards for digital finance.