Li Ming from the Ministry of Industry and Information Technology: If smart components such as smart contracts are developed separately, the development cycle of the blockchain system can be shortened

In response to the next plan of the blockchain, Li Ming, director of the Blockchain Research Office of the China Electronics Technology Standardization Institute, said that the bottlenecks of technology industrialization, system networking and application integration need to be solved through component, cross-chain and technology integration. In terms of components, the current blockchain-based platform development systems have adopted software development methods such as BCOS and Ethereum, but the poor expansion of functions has restricted the industrialization of blockchain technology. If manufacturers can develop technical components such as smart contracts or consensus mechanisms, they can shorten the development cycle of the blockchain system.