Trevor Luo, Executive Director of Hong Kong Advance Holdings: Blockchain is the most transformative in the field of payment settlement

According to Global Fortune Network, on May 24th, at the Interface Capital Forum hosted by the China Poster Industry Group and the Financial Association, Trevor Luo, executive director of Hong Kong Forward Holdings and vice president of OKLink Fintech, said that the development of blockchain technology is Driven by the financial industry, there is no exploration of blockchain technology in the financial industry. Blockchain technology will not develop so fast and will not become an independent research direction. However, the large-scale landing of blockchain applications will inevitably involve huge structural changes, which will be a long-term contest between traditional stakeholders and emerging stakeholders. He also pointed out that the blockchain has the most transformative power in the field of payment settlement, but this requires a top-down construction centered on the central bank. At present, in the blockchain application promoted by global banking and securities institutions, the development of non-standardized financial products such as bills and letters of credit, and non-listed private equity transactions are relatively leading.