Judging from the progress of practice, most of the application of blockchain technology in commercial banks is still being conceived and tested. There is still a long way to go in life and production, and it must be recognized by the regulatory authorities and the market. Faced with many difficulties, mainly include:
(1) Subject to current concepts, systems, and laws. The decentralization, self-management, and collective maintenance of blockchain subverts people's production and lifestyle, dilutes the state, regulatory concepts, and impacts existing legal arrangements. For these, the whole world is completely lacking in theoretical preparation and institutional discussion. Even with the most mature bitcoin in blockchain applications, different countries hold different attitudes, which inevitably hinders the application and development of blockchain technology. It is clear that there is still a long way to go to solve such problems [23].
(2) At the technical level, the blockchain still needs breakthrough progress. The blockchain application is still in the lab's initial development stage, and there are no mature products that are intuitively available. Compared with Internet technology, people can use browsers, APP and other specific applications to achieve information browsing, transmission, exchange and application, but the blockchain obviously lacks such breakthrough applications, facing high-tech barriers. For example, the block capacity problem, because the blockchain needs to carry all the information generated before the copy, the amount of information of the next block is larger than the amount of information of the previous block, so that the block write information will increase indefinitely. The information storage, verification, and capacity issues that have come to be solved remain [23].
(3) Competitive technical challenges. Although many people are optimistic about blockchain technology, there are many technologies that can be used to promote human development. Which technology is more convenient and efficient, people will apply this technology. For example, if you apply blockchain technology in the field of communication, the way to send information is to send everyone to the entire network, but only the person with the private key can decrypt the open letter, so the security of information transmission will be greatly increased. . Similarly, quantum technology can also be done. Quantum communication, which uses quantum entanglement for information transmission, is also highly efficient and safe. In recent years, it has made great progress. For blockchain technology, Has a strong competitive advantage [23]