Ping An Bank Deng Junyi: Subjects that already have a strong trust relationship do not need to be on the blockchain

Deng Junyi, Senior Project Director of Ping An Bank's Strategic Development Center, said in an interview with the China Business Daily that the blockchain solves the problem of trust and is a tool for endorsing, transmitting, and self-certifying innocence among subjects with weak trust relationships. The core lies in the credible circulation of value, but not all scenarios are suitable for the on-chain. Business scenarios need to be analyzed first, and comprehensive judgments should be made from credit mechanisms, ecological models, and business scenarios. At the same time, the subject that already has a strong trust relationship does not need to be on the blockchain.