Expert opinion: With the rapid development of emerging financial technologies, the research on the legal status of blockchain is still insufficient.

On May 25th, the Financial Times issued a document "The Law of International Innovative Enterprise Law Needs to Be Followed". The article pointed out that some experts said that with the rapid development of emerging financial technologies, the research on the legal status of blockchain is still insufficient. The financial industry is a legal and regulatory intensive industry, and any application of the blockchain requires legal recognition. But from the nature of the blockchain, the decentralized authority establishment process is very different from the traditional legal authority. Blockchain technology provides another solution: making publicity known to everyone in technology, and thus no longer requires the approval of an authority. The advocates of the blockchain generally believe that it is precisely because the blockchain has the characteristics of automatic disclosure that the occurrence of the transaction is open to the whole network and belongs to a publicity. But legal scholars generally believe that the use of blockchain for trading simply simplifies the steps of deposit and transaction record keeping, and has no real legal effect. In the field involving movable property, the formation of blockchain does not necessarily complete the delivery of real assets. When it comes to the transfer of shareholding rights and real estate, especially in China, the blockchain does not have the corresponding legal effect and practical application possibilities.