China, UK seek blockchain cooperation
Published: Nov 27, 2019 11:42 PM


A summit titled "Blockchain, Enabling Fintech in the New Era" was held on November 26 in London. 

Organized by Blockmania, a blockchain consulting think tank, and the Sino-European Financial Association (SEFIN), the event attracted around 100 blockchain experts, financial professionals and entrepreneurs from both China and the UK.

The event explored the recent developments and innovations in the blockchain industry, the integration of blockchain and other financial technologies and their impact on the financial industry, as well as the collaboration potential for the industry across the two countries.

Thor Chen, CEO of AAX, a technology-driven digital asset trading platform of the London stock exchange group, made a speech on "future trends and opportunities for digital assets." Chen said that unclear regulation is one of the main obstacles preventing institutional investors from adding digital assets to their portfolios. Institution-level technology and an attitude of embracing regulatory compliance are important to let institutional investors into the market, Chen noted.

Ning Wang, an advisor for Trias, a public blockchain, introduced Trias technology and architecture and its applications for financial institutions, government departments and industrial scenarios. He also gave an introduction of Trias Fabric, which ensures data independence and privacy while providing security operations and status verification.

Bo Zhang, executive director of SEFIN, a non-profit association for professionals in the finance industry, told the Global Times that blockchain technologies are seen as important both in China and the UK, with growing interest among governments and enterprises, adding that there are growing opportunities for closer collaboration between two vibrant blockchain ecosystems. 

The recent endorsement by Chinese President Xi Jinping has boosted an already fast-moving blockchain industry in China, while the UK has a well-rounded FinTech ecosystem with competitive advantages in terms of government and regulatory policy, according to a census of UK FinTech firms conducted by EY, said Zhang.

Global Times


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