Bank of China: blockchain technology has made it possible for the financial industry to build a new credit mechanism in the future

China securities network (reporter dai anqi) November 28, the bank of China research institute in Beijing released the "2020 annual economic and financial outlook report" (hereinafter referred to as the "report").

As for the development of the global banking industry, the report believes that over the past decade, the global banking industry has generally been in a development environment of low economic growth, low inflation, low interest rates, high financial constraints, high risks and high costs, which has continuously affected the development of the banking industry, resulting in declining returns and depressed market valuations. Looking into the future, the development environment of the banking industry is still complex. Facing the new development and changes, the banking industry needs to build a high-quality development evaluation framework, promote organizational change and strategic transformation, and seek breakthroughs in development. Blockchain technology has made it possible for the financial industry to build a new credit mechanism, so Banks should adopt corresponding development strategies to expand the application scenarios of blockchain technology. In addition, after nearly 20 years of rapid development, China's banking industry has not only made remarkable achievements, but also accumulated considerable risks. Therefore, it is more important to strengthen the management of Banks' non-performing assets in the future.

Text link:http://www.cs.com.cn/xwzx/hg/201911/t20191128_6003311.html

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