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Analysis and Outlook of Blockchain Technology Application in China Internet Finance

In: Proceedings of the 8th International Conference on Financial Innovation and Economic Development (ICFIED 2023)

Author

Listed:
  • Zhexu Jin

    (Gengdan Institute of Business, Beijing University of Technology)

Abstract

In July 2020 the People’s Bank of China officially issued the Notice on Promoting the Standardized Application of Blockchain Technology, which is a redefinition of blockchain + Internet finance. As China is a policy-oriented country, with the policy tilt, the concept of integrating Internet finance with blockchain has become a hot topic in these years. Many challenges and opportunities arise in the process of blockchain gradually penetrating into Internet finance. In order to promote the mixture of blockchain and Internet finance and to elaborate the current situation of the integration of Internet finance and blockchain in China, this paper introduces the theories related to blockchain and Internet finance. A SWOT analysis is made This paper also proposes some optimization suggestions, such as the strategies of chain-bank parallelism, Financial data fusion deposition, intelligent risk control, and expanding the layout of financial settlement field. Meanwhile, this paper hopes to provide some useful inspirations and references for this new hybrid model.

Suggested Citation

  • Zhexu Jin, 2023. "Analysis and Outlook of Blockchain Technology Application in China Internet Finance," Advances in Economics, Business and Management Research, in: Yushi Jiang & Guangming Li & Wilson Xinbao Li (ed.), Proceedings of the 8th International Conference on Financial Innovation and Economic Development (ICFIED 2023), pages 393-400, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-142-5_44
    DOI: 10.2991/978-94-6463-142-5_44
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