Vice President of Weizhong Bank: There are five key points in the development of blockchain in the banking industry

According to financial industry news, Ma Zhitao, vice president and chief information officer of Weizhong Bank, said in an interview that the banking industry has five major priorities in the development of blockchain: First, in terms of management methods, the incubation of blockchain and other fintech products Different from traditional banking products, its business scenarios are complex, cooperation models are innovative, and cooperation institutions are diversified. Second, data security and privacy protection, banks should pay attention to the protection of data sovereignty rights and conduct corresponding desensitization and privacy protection processing. Third, for technical security, strict risk prevention and control measures must be formulated to combine traditional technical means with new technical means to prevent technical risks that may arise from the application of new technologies. Fourth, the allocation of scientific and technological manpower. Banks should focus on increasing the number of scientific and technological personnel and ensuring the ratio of scientific and technological personnel to the entire bank's personnel, and strengthening the introduction of high-tech talents and management of personnel skills training. Fifth, regulatory cooperation. Banks should proactively provide regulators with RegTech solutions and supporting tools to support innovative business regulation and reduce compliance risks.