The computerization of China's banking industry started early, but the time for online digitization is less than 20 years. The rapid development of network digitization has begun to fully enter the mobile digitization stage.

In which direction the bank's digital transformation will take, experts who pay attention to blockchain emphasize "decentralized finance". I personally think that this direction is still a very distant concept. Many experts have not worked in banks, and they may oversimplify digital transformation. The author believes that digital transformation is an arduous system engineering for any industry. And because of the position of the banks as the foundation and core position of national financial heavyweights, in addition to industry characteristics, they also have regulatory considerations. Digital transformation starts early, but the responsibilities are still long way to go. We may have a better chance to see the continuous expansion of smart technology, cloud technology, big data and basic functions of blockchain (application promotion and improvement under the existing architecture), and it is not appropriate to talk about excessive radical "decentralisation" . The gradual adoption of virtual currency (token) is already a considerable leap forward, but no signs of activation have been seen.

We may have a better chance to see the expanding applications of smart technology, cloud technology, big data, and basic functions of the blockchain (application enhancements and improvements under the existing architecture), and it is not appropriate to speak of too radical "decentralization". The gradual adoption of virtual currencies (tokens) is already a considerable leap forward, and we have not seen any signs of activation.

Digital technology will make banking business easier, more convenient, more open, and better customer experience. However, it is difficult for the infrastructure, organizational structure, industry culture, and business logic to change drastically all at once.