Wang Yuanfeng, vice chairman of the China Development Strategy Research Society and a professor at Beijing Jiaotong University, wrote in the Global Times that blockchain faces three major challenges:
1. The talent reserve is extremely insufficient. The National Research Think Tank report shows that China has very scarce talents with blockchain development and related skills, accounting for about 7% of total demand. There is also a shortage of blockchain talent in the United States, which can be reflected in the salary of blockchain developers.
2. The current application of the blockchain is too shallow, and there is even the possibility of misuse and misuse. As for blockchain technology, many companies and organizations now want to combine this technology with existing production and service models.
3. The social impact of blockchain technology is not well understood. Blockchain is not just a technology, it may have a profound impact on basic theories of politics, society and economics.