before the holiday, the central bank to promote the chain based on the digital paper trading platform has been successfully tested. After the Spring Festival, the central bank’s digital currency Institute will be officially listed. This means that, on a global scale, the Chinese central bank will become the first study of digital currency and real applications of the central bank.
26, the China Securities Journal interview with the people’s Bank of China Science and Technology Secretary Li Wei, on the block chain applicable scenarios, technical risks, whether applicable to digital currency and other issues were answered.
China Securities Journal: block chain technology in the financial sector is more suitable for business scenarios?
Li Wei: as a new technology, block chain technology in terms of system stability, application security, business model is not yet mature, is mainly applicable to the following business scenarios:
non real time business scenarios. Due to the large number of participating nodes in peer-to-peer network structure, the status is equal, and each node has the right to trade transactions and provide services, transaction processing needs to consume high computing resources and time cost.
lightweight information business scenario. Because the storage mode block chain technology decentralized, each node needs to store the complete history of the transaction information, redundant data and storage space consumption.
transaction throughput smaller business scenarios. Block chain technology is based on the block as the basic unit to store the transaction information. Each trusted block must be completed by the whole network node to generate enough computation to generate the block.
information sensitivity is low in business scenarios. In the block chain network, each node can obtain a complete copy of the historical data, and can interpret all the historical transaction information, sensitive information is easy to be leaked, resulting in transaction fraud risk. With the further improvement and optimization of the block chain technology, it is possible to make a breakthrough in other business scenarios.
China Securities Journal: block chain technology in the field of financial applications which are worthy of attention?
Li Wei: due to the inherent characteristics of the consensus mechanism, network architecture, data storage mode and so on, block chain technology used in the financial sector need to focus on the following risk points:
point to point network security and stability risk. The technology of block chain adopts the structure of peer to peer network and the mechanism of message broadcasting, and the nodes can join or exit the network freely, which is vulnerable to routing spoofing and address spoofing attack.