DBS Bank: The biggest challenge in the application of blockchain is not technology but the establishment of an ecosystem

Lin Xinchuan, Chief Strategy Officer and Managing Director of DBS Bank, said that the parent bank of DBS Bank has been actively exploring the application of blockchain technology. The successful experience is of great reference significance for DBS Bank to promote the integration of blockchain and financial industry in China, especially Shanghai. Shanghai, as an important trade port city, has great potential in blockchain application. Singapore's successful projects will definitely achieve greater success in Shanghai. Lin Xinchuan stressed that the biggest challenge in the process of blockchain application is not the technology itself, but the establishment of the ecosystem. Without enough participants, the network effects contained in blockchain technology cannot be exerted.