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Blockchain technology helps solve cross-border financial problems

Time : 08/12/2021 Author : vftzm3 Click : + -
        On April 27, 2022, Liu Guohong, assistant to the president of China (Shenzhen) Comprehensive Development Research Institute, said at the Weizhong blockchain brand launch event that the cross-border financial link, which was first implemented in Guangdong, Hong Kong and Macao Bay area, has been officially launched in September last year. So far, the overall transaction volume is still unsatisfactory. Liu Guohong said that there are many reasons for dissatisfaction. First of all, cross-border witness accounts are opened. At present, not all banks can participate, only a few banks have been approved; Secondly, the products of cross-border wealth management are not rich. At present, the products are mainly focused on capital products, and the capital products are rarely involved, or even not involved; Thirdly, the investment target product of cross-border wealth management link does not have a supporting policy of cross-border promotion. The above reasons limit our enthusiasm for investment.
 
        He believes that for these problems, in fact, some of the blockchain technologies are very easy to solve. For example, cross-border witness account opening can be realized by using blockchain technology, and the risk is controllable; Another example is to enrich the types of cross-border financial links. First, mutual recognition of funds is required. In this regard, blockchain can also play a great role. In his opinion, the blockchain strengthens the foundation of credit. In view of the reality of "one country, two systems and three currencies" in Guangdong, Hong Kong and Macao Bay area, it can reduce costs, improve efficiency and exchange data credit without changing the system differences. "I believe that in the future, blockchain technology will certainly play a major infrastructure role in cross-border data circulation, credit information, equity trading, Green Trading and other fields during the construction of Guangdong Hong Kong Macao Bay area and Shenzhen pilot demonstration area.
 
        ”Liu Guohong said. First of all, the cross-border transfer of data involves many government departments and policy requirements. To a certain extent, it can be said that "cross-border transfer of data" is a public service. It is necessary for the government to take the lead in promoting the provision of this public product. Secondly, the cross-border flow of data should consider both the optimal allocation of data resources and national security. In order to achieve this goal, we must realize that only by making more use of science and technology can we eliminate the obstacles and gaps in data flow, and only by making use of science and technology can we integrate the existing institutional differences and differences. Thirdly, from the perspective of government departments, it is necessary to open more application scenarios, and gradually improve the system and policies of data transfer, so as to allow more market participants to participate in it. Only in this way can the network benefits in the network economy era be realized.
 
        Finally, from the perspective of the government, we should also particularly support the construction and development of blockchain technology, especially the blockchain open source technology platform. Open source technology is a very important support point to support the development of the network economy. On this point, both government departments and all walks of life should attach great importance to it. Return to Sohu to see more.
 
        
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