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What are the challenges for the development of blockchain in China?
What challenges does the blockchain currently face?

At this stage, the application projects in the blockchain field are mainly divided into two aspects: one is a new business model that matches the blockchain technology, such as cross-border payment, supply chain finance, product traceability, etc. The second is based on the reform and application of the existing centralized business, that is, using Token's economic incentive mechanism.

With the development of technology, the number of application projects in this field is expanding rapidly. Many people think that 20 18 will be the year when the blockchain truly combines with the real economy and breaks out. However, blockchain technology is still in the early stage of development, facing challenges including regulatory environment, lack of talents and technical awareness.

From a technical point of view, the application of blockchain technology in actual industry scenarios needs to solve problems such as transaction speed, data consensus and node maintenance. At present, the Bitcoin network can only handle 7 transactions per second, while the more advanced super-ledger technology can only reach the level of 200 to 300 transactions; This is still a long way from the centralized system with tens of thousands of transactions per second. In addition, the current field lacks relevant incentive mechanism, which makes it difficult for participating nodes to operate in an orderly manner. From a regulatory point of view, although most countries actively embrace blockchain technology, there are no relatively perfect regulatory regulations and industry standards at this stage. Improper regulatory measures may hinder the innovation and development of these emerging technologies.

Affected by many factors, such as the underlying technology needs to be further matured, the lack of intelligent contract public chain platform, the lack of ecological compatibility of various Token, and unclear government supervision; At this stage, the blockchain application project is slow to land, and the quality of the project is also mixed. To this end, analysts said that compared with the general blockchain, the blockchain focusing on specific scenarios and applications may make a breakthrough in the short term.