Moody's senior analyst Frank Cerveny said that the use of blockchain in securitization is still at a "very early stage", but banks and other financial institutions are paying attention to their applications. Cerveny believes that its large-scale use will bring new risks, including the possibility of over-reliance on a small number of developers or development studios. “The new key parties will be introduced, ie as developers, providers and operators of the blockchain. They can be tightly connected or originated, or independent third-party service providers, which may lead to some degree The risk of counterparty concentration is the same.” As a new area, blockchain technology lacks talent, smart contract experts are few, and somewhere in between. Although anyone can post tokens through some templates, there are many considerations in terms of scale, including security.