Liu Jun: Digital technology can only strengthen trust, it cannot replace trust

Liu Jun, the President of Industrial and Commercial Bank of China, stated that digital technology has changed the currency trust mechanism while promoting the development of the digital economy. Data, algorithms, and programmability participate in the generation and transmission of credit, and trust has shifted from institutional single point support to institutional and technological joint support. However, technology can only strengthen trust and cannot replace it. (Source: Caixin website)