The forecast is based on several core features of the blockchain: decentralization, distributed ledgers, point-to-point transmission, and tampering. From a certain perspective, Bitcoin can be seen as the first practical application of a blockchain that is generated simultaneously with a blockchain. In addition to virtual currency, blockchain technology can be applied to many industries and fields. Blockchain technology is a technology without borders, and professionals around the world are studying it, including China. China does not have a big gap in terms of blockchain technology compared with foreign countries. Due to the existence of some special problems in China, blockchain technology will take the lead in the following areas in China.
Encrypted digital currency
The People's Bank of China is already studying the introduction of digital currency. The launch of digital currency must be based on the corresponding blockchain technology, which will help the internationalization of the renminbi and the dollar hegemony to a certain extent.
Stock trading and foreign exchange trading
There are already blockchain companies in China that are developing blockchain technology applications based on securities and stock trading clearing systems and foreign exchange trading products based on blockchain technology.
Government credit and certification system
This is an issue that China urgently needs to solve. Although the resistance encountered is also well known.
China will have a new commercial platform represented by blockchain technology, challenging the current e-commerce platform represented by Ali.
According to the current development trend, the blockchain will not only reshape all aspects of the money market, payment systems, financial services and economic forms, but also change every aspect of human life.