SMM: bank of China Research Institute released the "2020 Economic and Financial Outlook report." According to the report, over the past decade, the global banking industry has generally been in a development environment of low economic growth, low inflation, low interest rates, high financial constraints, high risks and high costs. As a result, the development of the banking industry has been continuously affected, the rate of return has declined, and market valuations have been depressed. Looking forward to the future, blockchain technology has brought the possibility for the financial industry to build a brand-new credit mechanism. Banks should adopt corresponding development strategies to expand the application scenario of blockchain technology.
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