Li Lihui: Blockchain technology is still in the initial application stage

According to Xinhua News, Li Lihui, the leader of the Blockchain Research Working Group of the China Internet Finance Association and former President of the Bank of China, said in an interview that after ten years of development, blockchain technology should be said to be still in an initial application stage. There are already some large-scale commercial applications, but the overall scale is not large. In addition, many applications are experimental. Therefore, if we take a sentence to summarize the current state of development of blockchain technology, it is that blockchain technology is not yet mature, and the bottleneck of reliable and large-scale application of blockchain has yet to be broken. We are still in blockchain technology And key opportunities for industrial innovation. Blockchain is a variety of underlying technical innovations, such as peer-to-peer networks, and some cryptographic algorithms as a component technology, which is relatively mature in itself. But when we integrate existing component technologies, we will get new requirements. In addition, blockchain also has specific technologies, such as consensus algorithms and smart contracts. These technologies must meet the needs of large-scale and reliable applications, and further innovation must be made to make it more mature. It is also good to use blockchain technology or other digital technologies in China. One very important feature is that China is a huge market. In the huge market, any digital technology innovation and application of digital technology must meet the high concurrency requirements of the huge market. This is also the direction for further innovation, further improvement and further maturity of blockchain technology in the future.