Weizhong Bank Vice President: Asset digitization and data assetization may drive the development of blockchain business

Ma Zhitao, deputy governor of Weizhong Bank, said in an interview that the current application scenarios of blockchain are not rich enough. This requires major institutions to change their minds and collaborate to find complementary partners to jointly develop product and business innovation. There are two trends in the future that may drive the development of blockchain business. The first is the digitization of assets. Traditional assets rely on paper contracts and require a central agency registration certificate or endorsement, such as a real estate certificate. The future trend is to go digital. The second is data assetization. All sectors of society have realized that data is valuable, and data is becoming a valuable asset. But more importantly, in the past, there were some scenarios where the cost of assetization was too high and the industry felt it was not worth it. For example, intelligent terminal data of the Internet of Things (referred to as IoT for short). If a smart car enters a smart parking lot, the merchant has the motivation to obtain consumption information. The event itself is valuable data for the merchant. In the traditional method, there are many difficulties in the exchange of personal data across agencies and departments. There may be "fake running water", which can be solved by blockchain. Behind the digitization of assets and data assets, technical support such as blockchain is required.