Director of Institute of Finance, Xiamen University: Blockchain has eight outstanding technological advantages

On January 12, the second Xiamen International Blockchain Venture Summit was held in Xiamen University. Zhang Yichun, director of the Institute of Finance of Xiamen University, pointed out in his opening speech that, literally, blockchain is a data chain composed of information blockchains, which is a combination of multiple technologies: chain data structure, consensus algorithms, and smart contracts. Rule generation, point-to-point network based on encryption algorithm, the combination of four technologies constitutes the dimension of interaction between multiple dimensions, which can realize the interaction of many participants with zero distance and time difference. Blockchain technology has eight outstanding technical advantages that can make rules, coordinate governance, avoid verification, avoid duplication, streamline processes, share information, improve efficiency, and save costs.