Ping An Blockchain White Paper: There is still a way to go for large-scale commercial deployment of blockchain

On May 31, the “Black Paper for the Blockchain of Ping An District” was released in Beijing. In the white paper, in general, blockchain is a new convergence model of computer and network technologies that enables large-scale commercial deployment of technologies such as performance, security, privacy protection, governance, and cross-chain interoperability. There is still a long way to go, and the technology itself needs constant optimization to reach further. For the challenges faced by blockchains in the development of financial industry applications, the white paper systematically states that according to IDC's research on 457 financial companies (including three sub-sectors of banking, insurance and securities) in the world in 2018, financial enterprises are using them. Concerns about blockchain include data security, interoperability, and technology maturity. IDC combines global research data and observations on the Chinese market. It believes that the main challenges faced by the blockchain in the scale of financial industry applications include “security protection”, “interaction”, “transaction performance” and “network ecology”. . Moreover, data security issues are the most worrying issue for financial firms when using blockchains.