Under the impact of Internet finance, China's banking industry's lack of understanding in the development of financial technology has caused its investment in financial technology development lagging behind and trapped in a passive situation. For instance, block chain technology is often being ignored by China's domestic banks, especially by larger commercial banks. We believe that domestic banks should learn the lessons from their previous experience in lagging in applying financial technology, and should catch-up in utilizing global chain by improving their understanding in financial technology. The regulating departments too have to relax some unnecessary restrictions and improve the financial technological innovation policy environment to encourage financial institutions to increase their investments in such innovations.