Fin-tech reflections-3: The famous BlockChain

Heard about Block Chain for a couple of times, especially the famous TED talk. BlockChain is so hot, that everyone is talking about it. The TED talk about BlockChain was flooding my We Chat Moments before I joined this overseas trainingprogram. So, I am happy to learn something about it.

WhatI learned and burned in my brain are these two points: the reason why it is sohot, and the reason why it is so hot in China.

BlockChain equity funding together with ICO are attracting hundreds of millionsdollars now. And to my understanding, almost every crypto currency is usingBlock Chain technology, am I right? If I am right, then Block Chain technologyis attracting the investment and the public attentions. Why? I think it isbecause this technology is a break through to solve the trust problem inbusiness. And because it is so useful in solving the trust worthy problem, thatevery genre of business is trying to involve it in their daily business. And frommy background, I understand SWIFT, and I know clearly the current setback ofthe SWIFT system, so I am looking forward to learn more about Ripple. This isthe reason I am joining the international group to dig more about Block Chainand international settlement. This is also the reason why it is so hot.

AndI am shocked that our Chinese State Council wrote Block Chain into our“Thirteen Five Year Plan For China” at Dec.15, 2016. No wonder everyone wassearching about it, talking about it, writing about it, and crazy about it. AndI understand now, that China is determined to become the one leading the BlockChain technology. This is exactly why it is so hot in China!

WhatI learned about Ripple, I think this is a key information I want to broughtback to my bank. I would like to do a group research about Ripple, and give ouropinion about whether ICBC should join in Ripple or not.

Ido hope that Block Chain is the breakthrough technology solving trustworthyproblem. This will change our understanding and standard procedure ofconducting business.