Unprecedented Blockchain Forum at the 2018 Beijing Financial Expo - Cryptocurrency Development Trend

Unprecedented Blockchain Forum at the 2018 Beijing Financial Expo - Cryptocurrency Development Trend

Nov 5th 2018| Investment By:Sakura
Known as "China's financial innovation vane", it is the largest and most influential financial expo in China with an internationalization focus.

According to Mars Finance, on November 3, Beijing Financial Expo Blockchain Forum and The First Annual Meeting of 2018 China Blockchain Application and Research Center were held in Beijing.

Founded in 2005, the Beijing International Financial Expo has been successfully held for 13 years. Known as "China's financial innovation vane", it is the largest and most influential financial expo in China with an internationalization focus.

Several financial sector leaders spoke at the forum regarding blockchain technology regulation and development. Hongzhang Wang, former Chairman of China Construction Bank states that the problem of migrant workers' wage arrears is expected to be solved through blockchain technology. The largest blockchain mobile phone application is from the central bank, and now Shenzhen has set up a blockchain-based trade financing platform with a testing has already carried out in Qianhai.

Hongzhang Wang further expresses that blockchain technology should be researched, developed and applied from the aspects of preserving truth, transaction transparency, ensuring security, reducing cost and improving efficiency, so as to truly provide technological services for the real economy.

Yongli Wang, former Vice President of Bank of China, also delivered a speech on "To Rationally Look at Digital Currency".

To truly understand the cryptocurrencies on the internet, he said, the first step is to get an accurate understanding of what our currency is today. It is necessary to rearrange and accurately grasp the nature of money and the logic of its evolution. Cryptocurrencies such as bitcoin can only be used in established online communities or businesses, and cannot replace fiat money.

From the former Vice Chairman of China insurance regulatory committee Yingning Wei, blockchain can solve the mutual trust problem between strangers. As the underlying technology of bitcoin, blockchain has attracted attention with the advent of bitcoin. Blockchain, as a decentralized distributed measurement technology, solves the problem of mutual trust between strangers, where its value lays.

Yuhang Guo, Chairman of the China blockchain application and research center, delivered a speech: "to sum up, in the future, in addition to the blockchain without coins becomes outside the mainstream of public opinion, it will be more convenient to trade through the blockchain and reduce transaction costs, which will become a breakthrough for supervision at present."