Research on the Application of Blockchain Technology in Digital Inclusive Finance

DOI: https://doi.org/10.62517/jse.202411609

Author(s)

Jianbang Lin1,*, Tian Wang2,*

Affiliation(s)

1 Nanfang College • Guangzhou, Guangzhou, Guangdong, China 2 Guangdong University of Foreign Studies South China Business College, Guangzhou, Guangdong, China *Corresponding Author.

Abstract

With the rapid development of the digital economy, digital inclusive finance, as an important development direction of financial services, is providing more equal, convenient and efficient financial services for all sectors of society by means of the Internet, big data, cloud computing and other technical means. However, issues such as information asymmetry, high transaction costs, and low service efficiency still constrain its further development. Blockchain technology provides new ideas and methods to solve these problems. This article analyzes the practical progress of blockchain technology in the fields of credit reporting, payment settlement, supply chain finance, and other areas of digital inclusive finance. It delves into the challenges currently faced, such as inconsistent technical standards, insufficient data security and privacy protection, and low participation of financial institutions. Based on this, targeted application strategies are proposed, including strengthening technology research and development and standard setting, improving data management and privacy protection mechanisms, and enhancing the participation of financial institutions. Through multi-party collaborative efforts, promoting the deep application of blockchain technology in the field of digital inclusive finance can not only improve the quality and efficiency of financial services, but also promote financial equity and sustainable socio-economic development.

Keywords

Blockchain Technology; Digital Inclusive Finance; Application; Financial Services; Supervise

References

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