Evaluating Enterprise Blockchain Execution Failure: Legacy Core Integration Challenges and the Strategic Dominance of Government-Sanctioned Frameworks (Chainmaker, FISCO) in Chinese Financial Services

This transcript examines enterprise blockchain adoption in China as a government-led data access model rather than a technology-driven innovation cycle. Success depends on aligning with state-backed frameworks, regulatory compliance, and standardized data governance rather than building proprietary infrastructure. Integration challenges across legacy systems and on-chain/off-chain reconciliation remain the biggest bottlenecks, with production timelines extending up to 24 months. Value is concentrated in middleware, settlement systems, and compliance layers, while base-layer infrastructure is increasingly commoditized, making partnerships and regulatory alignment critical for scalable deployment.