The Challenges and Countermeasures of Blockchain Finance and Economics

Yang Zheng, Tao Huang
International Journal of Finance, Insurance and Risk Management, Volume 8, Issue 2, 1404, 2018
DOI: 10.35808/ijfirm/182


Blockchain is a new underlying technology in the Internet era, whose ultimate goal is to analyse and process the information data through the effective integration of financial resources. No matter what kind of financial formats or new financial service models are generated, they are all dedicated to upgrade the financial system and promote the efficiency and quality of financial operations and service from the layer of data, rules, and application according to the market and customer needs. Blockchain technology can help the financial industry to automatically and accurately identify customer credit conditions to restructure the financial market credit system and improve the efficiency of cross-border payment. However, it also poses a challenge for the development of the financial industries. In this paper, we systematically analyse the technology of blockchain and its application in the financial and economic field, the status quo and the challenges it faces, and then give constructive suggestions to help the blockchain technology develop better in the financial and economic field.

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