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What are the main problems in the development of blockchain technology?

Author:Hubi Date:2018-07-25 14:25:07

At present, blockchain technology is still in a very early stage, not only has not yet formed a unified technical standard, but various technical solutions are still developing rapidly. However, in the past, systems that were considered to be based on blockchain technology would be very resource intensive (similar to Bitcoin), or the problem of blockchain technology in the system processing data has been technically breakthrough. However, the scalability of the blockchain technology has not been tested in large-scale practice, but now mainly stays in the prototype design stage.

If quantitative analysis is not available, the practical benefits of using blockchain technology, including the savings and value created, will keep the financial industry relatively cautious in the short term. After all, the current global financial infrastructure investment has exceeded trillions of dollars. To establish a new financial structure and the underlying operating system requires the support of actual data.

In the case where the prior art has not been deployed and a use case has been obtained, the total amount that can be saved is still difficult to determine. So far, there is still a huge question. How much money is needed to build a strong enough blockchain to deal with the trillions of dollars that the capital market ecosystem needs to face every day.

In addition, the blockchain industry is extremely lacking in talents. Without a large number of talents who understand blockchain technology and understand finance, the market is desperately searching for talents that can connect the two worlds. It is necessary to be able to connect blockchain technology in the real world. It can be implemented in the capital market and achieve better functionality. The need to establish a new system based on blockchain technology will inevitably require such cross-border talents.