People's Congress Cao Shengxi: "Technical Specifications for Financial Distributed Ledger Technology" can regulate projects that have applied blockchain technology but have security vulnerabilities

In response to the previously published "Specifications on Technical Security of Financial Distributed Ledgers", Cao Shengxi, associate researcher at the International Monetary Institute of Renmin University of China, said that compared with the previous, the "Specifications" released in 2020 are mainly targeted at the financial industry and are for users of distributed ledgers. Management, regulatory support, privacy protection, etc. have put forward higher requirements. After the "Specifications" was launched, the financial blockchain has a reference benchmark in all aspects of architecture design, module functions, and software interfaces, and this benchmark is at the forefront of the world. Cao Shengxi said: "Before the release of the" Specifications ", domestic financial blockchain applications were growing savagely. Some applications claimed to be based on blockchains, but they were not. In fact, some applications were based on blockchains, but their security performance was not equal. No insurance. After the release of the "Specifications", it is possible to either exclude the former category of "fake" blockchain projects, or to regulate projects that have applied blockchain technology but have security vulnerabilities. "