A Chinese official from the financial department, speaking at a Beijing state conference said that a completely decentralized blockchain is not the most optimal solution. This is reported by CoinDesk.
Speaking at the People's Political Consultative Council of China as a policy advisor, the head of the technology department of the Chinese Securities Regulatory Commission, Zhang Ye, called on China's public sector to use advanced technologies such as AI and blockchain to provide state services.
But with one caveat - although Chiang believes in the potential of the blockchain, it is necessary to use a centralized infrastructure to fully realize its capabilities.
Blockchain's advocates for absolute decentralization have no solid ground, because [blockchain] itself is a software developed in a centralized way. So is the public key infrastructure, which remains an important feature adopted by blockchain. The key is to explore how to achieve decentralization through a centralized infrastructure.
Head of the technology unit, China's Securities Regulatory Commission
According to Zhang, in some cases, decentralization can really do more good, but he doubts that absolutely all the blockchain should be decentralized.
In addition, according to Li Lihui (former president of the Bank of China, and now - head of the blockchain research department at the Chinese National Association for Financial Activity on the Internet), many of the current blockchain projects are designed, in fact, using a variety of centralized elements and without full decentralization