Bank of China Guo Weimin: Blockchain is most suitable for management scenarios, which can greatly improve the operating efficiency of banks

According to Sina Finance News, on December 17, the 3rd China Internet Finance Forum 2019 was held in Beijing. At the meeting, Guo Weimin, chief scientist of Bank of China, said that the application of blockchain, especially encryption technology, may become a very important infrastructure in the future digital age. Today's blockchain platforms are all running on the Internet. The Internet is not the most suitable platform for IoT and peer-to-peer network applications. In the future, the development of real IoT platforms may have more impact on blockchain applications. Great promotion, we may see blockchain switches and blockchain routers in the near future. Guo Weimin said that the most suitable use of blockchain is management scenarios. He believes that the blockchain not only guarantees data privacy, but also enables effective application of data. It can effectively use multi-dimensional and detailed data through various transformation mechanisms. This is useful for commercial banks or governments. In terms of operating efficiency, it will be a huge improvement.