China Electronics Society Jingang Fan: Blockchain Technology May Offer Protection Against Personal Credit Chaos

According to the Justice Committee on August 11, Pan Jingang, general secretary of the Blockchain division of the China Electronics Academy, said that blockchain technology can provide emergency protection against self-borrowing. Fan Jingang said that in the field of personal loans, blockchain technology can be a powerful tool for litigation and liability. Blockchain can compile loan agreement technology with the consent of multiple parties and ensure reliable procedures for keeping data accurate and non-transferable. If smart contracts can be used in the future to support conditions such as loans and overdrafts, loan repayment can be more efficient, the risk of private lending can be reduced, and private investment can return to the level of. support for growth. It can control actual business decisions and financial business decisions.