Jerry Yang, the co-founder of Yahoo said that blockchain technology is tailored to the financial sector

Jerry Yang, the co-founder of Yahoo said that blockchain technology is tailored to the financial sector .

Yang was interviewed at the Nikkei Innovation Asia forum held in Singapore on Thursday. There he commented that " Blockchain is a natural technology for banks and commerce. If you look at the institutions and banks in the United States, the type of infrastructure that is being developed has long-term implications. For the technology to be successful, the question is: how can trust be built? That can open a lot of doors . " So, Yang believes that the great challenge of blockchain technology is to build trust in investors.

Continuing with the issue of trust, Yang added: " For applications to be implemented successfully, trust must first be built ." On the other hand, the co-founder of Yahoo pointed out the positive and negative aspects of the competitive rivalry between the United States and China, a fight that he does not see ending soon. " It continues to be the accelerator, both for the greater good and for the greater division. There must be some kind of mutual trust, which seems to be deteriorating. "

Although Yang framed his comments in the context of the US financial industry. UU., China considers that blockchain is one of the key technologies in its plan of the Fourth Industrial Revolution, with applications that go far beyond banks and commerce. In fact, China seems to see them as perhaps the least important sectors, although its large technology companies have an advantage in areas such as mobile payments. In this sense, China does not have the same problem with the "confidence" that the West has with regard to the adoption of the block chain, because it can direct the economy from above.