The original ICBC President: blockchain or deposit trading loopholes, do not ignore the financial rules of the wind
It is reported that the former President of Industrial and Commercial Bank of China, Yang Kaisheng, stated at the "6th Shanghai New Financial Annual Meeting and the 3rd Internet Finance Bund Summit" that at present some practitioners in the Internet finance regard the indifference and divergence of financial laws as development and Innovation, and pointed out that in the process of advancing the development of technology, it is necessary to avoid impetuousness, and we must be alert to the continuous improvement of technology before we can really solve the problem. In his speech, Yang Kaisheng pointed out several current conceptual errors in the blockchain.
Yang Kaisheng said that it should be noted that although the possibility of tamper recording is almost non-existent from the perspective of blockchain technology, if a tough group’s group behavior occurs, especially in the private chain, it is still possible. Need to be further observed.
In addition, for the current popular description, payment through blockchain is done directly by both sides of the transaction, skipping the intermediate links that were necessary in the past, and efficiency will be greatly improved. Yang Kaisheng said that we also need to pay attention to To achieve this goal, the current level of blockchain technology needs to be improved by several orders of magnitude. He said that, for example, the narrow block-wide broadcast of the whole network of the blockchain takes a long time, and can only deal with single-digit transactions per second, while the transaction volume per second of traditional financial institutions is often more than a few thousand.
Yang Kaisheng stated that the development of finance is a process of continuous innovation and trial and error. From internet finance to Fintech, from big data to blockchain, along with the advancement of financial reforms, financial innovation will accelerate, but due to the huge risks in the financial industry. Spillover effects, the cost of trial and error must be more strictly controlled.
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