Blockchain technology will have a revolutionary impact on the financial field, which can reduce the cost of financial system occupation

　　How to understand the blockchain? What can blockchain do? A few days ago, a number of well-known experts and scholars in the field of blockchain at home and abroad, blockchain-related organizations and heads of blockchain companies gathered at the China Blockchain Development Forum. The forum is an important event of the 23rd China Beijing International Science and Technology Industry Expo (hereinafter referred to as the "Tech Expo"), with the theme of "Blockchain Empowers the Deep Integration of Digital Economy and Real Economy." Everyone discussed the future development trend of blockchain around blockchain-related technological innovation, large-scale commercial applications, and industrial ecological construction.
　　"In a world where everything is connected, the digital trust mechanism established by blockchain technology, artificial intelligence technology and big data technology can solve the problem of'who are you, whose ownership belongs to, and whose command power belongs'." China Li Lihui, head of the Blockchain Working Group of the Internet Finance Association and former President of Bank of China, said.
　　He Ping, director of the China Financial Research Center of Tsinghua School of Economics and Management and professor of the Department of Finance, summarized the above mechanism as distributed credit. He believes that blockchain can realize a new type of credit model. "Through blockchain technology, supervision, punishment or rewards can be carried out in all aspects of social life, spur breaches of contract, and achieve credit protection. For example, in the fields of food safety and drug safety, the tradition is centralized with a government department as the core Mode, but there can be more extensive supervision in the future. Many local governments are promoting local enterprise financing service platforms to realize joint punishment for dishonesty. At present, they generally use a centralized mode. I believe that the use of blockchain technology can accelerate the construction of a credit system Process.”
　　Based on similar principles, blockchain technology will also have a revolutionary impact on the financial sector. He Ping believes that blockchain can address the shortcomings of the traditional single-center service system and establish a decentralized or multi-center cross-platform credit system, thereby reducing the cost of the financial system.
　　Changes in financial business will inevitably affect the reform of financial supervision. In recent years, financial technology has enabled the continuous emergence of cross-border businesses and cross-cutting innovative products, and different businesses are related to each other. Risks are more contagious, spread faster, and spread more widely. Once they break out, they will trigger related financial risks.
　　“Under this situation, the regulatory authorities rely more on technological progress to enhance regulatory effectiveness and enrich regulatory methods.” Chai Hongfeng, academician of the Chinese Academy of Engineering, chairman and director of the National Engineering Laboratory for E-commerce and Electronic Payments, emphasized in his speech how to encourage financial innovation Preventing financial risks at the same time is an eternal theme and common problem for financial regulatory authorities in various countries. He said that compared with the rapid development of financial technology, the existing supervision methods are still limited to traditional modes such as on-site audits and institutional reporting, which are difficult to meet the real-time requirements of supervision, and the channels for obtaining risk information are relatively limited, unable to cope with new The impact of technology.
　　He also proposed a blockchain-based financial technology innovation supervision tool. “For regulatory agencies , regulatory technology can improve their regulatory efficiency and regulatory capabilities, and alleviate problems such as asymmetry of regulatory information, regulatory delays, and regulatory gaps; for regulated agencies, regulatory technology can help reduce manual workload and reduce Corporate compliance costs.” Chai Hongfeng said.
　　Despite the broad prospects, the blockchain field must not "conceptual hype". Many experts have expressed that they must actively respond to the challenges of digital transformation.
　　"China is a big country in data resources and a big digital market , but it has not yet established a geographic competitive advantage in the global digital technology landscape. China currently lacks independent property rights in the blockchain consensus mechanism, smart contracts and other underlying technologies." Li Lihui said , Therefore, it is necessary to cultivate talents as soon as possible.
　　"People-oriented. The key to occupying the digital technology highland lies in talents. It lies in innovative scientific research institutions and core enterprises led by high-end talents." Li Lihui suggested that industrial policies should be clarified, a certain amount of financial resources should be allocated, and innovative scientific research institutions and core enterprises should be increased investment , Provide preferential treatments for digital technology professionals in terms of R&D funding, salary incentives, tax relief, office and residence, medical treatment and school admissions. It is necessary to create a fairer and more relaxed business environment for private enterprises . At the same time, it is necessary to support state-owned enterprises to establish incentive mechanisms that conform to the laws of market economy and technology.
Zheng Yi, the 　　regional general manager of Beijing Zhongguancun Information Valley Asset Management Co., Ltd. , Tianjin Zhongguancun Science and Technology Park Operation Service Co., Ltd., and the executive director and general manager of Tianjin Zhongguancun Information Valley Technology Service Co., Ltd. believe that in the era of digital economy, various industries are rapidly digitalized. In the context, "winding up" has become a new "standard configuration." From a single technological innovation to a clustered industry , the development of the blockchain also requires the support of regional innovation soil and advanced policies.