Research On The Motivation, Scenarios And Risks Of The Introduction Of Blockchain Technology By Commercial Banks In My Country

With the further development of a new round of scientific and technological revolution and industrial transformation,blockchain technology,which represents the core spirit of openness,sharing and decentralization,is booming.Blockchain technology is considered the core technology that is most likely to trigger a new round of technological revolution after Internet technology.In recent years,China's commercial banks have carried out many beneficial practices in the application of blockchain technology.Some application scenarios have been implemented and achieved good results,but the application of blockchain technology in commercial banks is still in the preliminary stage of development.In order to fully grasp the overall situation and development trend of the application of blockchain technology in China's commercial banks,this thesis summarizes the international practice and theoretical literature of the application of blockchain technology in commercial banks on the basis of a large number of relevant literature and the existing practice cases.Based on the in-depth interviews with bank executives,industry experts and scholars,and the analysis of the questionnaire of bank employees,this paper analyzes the motivation,application scenarios and corresponding risk changes of the use of blockchain technology in China's commercial banks.Finally,this paper gives practical policy suggestions from three different perspectives: National regulatory authorities,Banking Association and Commercial banks.Based on the analysis of the results of in-depth interviews and questionnaires,the research finds that the motivations of Chinese commercial banks in introducing blockchain technology are mainly manifested in the following five aspects: the popularity of blockchain concept,traditional large and medium-sized banks testing waters in blockchain technology one after another,a huge potential effect of blockchain technology on banks,the needs of banks' own transformation and development,and the support of bank management in using blockchain Chain technology.At the same time,the paper also discovers four application scenarios of blockchain in China's commercial banks: supply chain finance,cross-border payment business,asset securitization business and bill business.Based on the detailed analysis of the above four scenarios,the paper concludes that the use of blockchain technology in China's commercial banks has not only brought great changes to traditional bankrisks such as credit risk,operational risk,liquidity risk and market risk,but also spawned many new risks: the risks of blockchain technology itself,the risks of financial information security brought by blockchain business,the risks caused by lack of insurance and blockchain ecosystem,as well as risks caused by vague and lagging laws and regulatory policies.To cope with the changes brought by blockchain technology to the traditional bank risk or the new risks brought by blockchain technology,the risk management system of commercial banks in China needs to be improved urgently.In view of the above analysis,the paper suggests(puts forward)countermeasures for China's banking regulatory authorities,China Banking Association and China's commercial banks.First of all,the countermeasures(and suggestions)for China's banking regulatory authorities are as follows: making top-level design and planning,and promulgating industrial support policies;strengthening the application of supervision science and technology,improving the system of supervision rules;Cracking down on illegal financial activities and strengthening consumer protection.Secondly,the countermeasures for China Banking Association are as follows: building a multi-party cooperation platform for government,industry,university,research institutes and banks(application),making it a blockchain industry ecology;focusing on participation in the development of international standards and rules making,strengthening industry standardization research;building a blockchain technology talent support system,training professional talents;establishing a blockchain management committee of the banking industry to promote the coordinated development of the industry.Finally,from the perspective of different types of commercial banks,such as large and medium-sized commercial banks and small and medium-sized commercial banks,the paper puts forward countermeasures and suggestions for Chinese commercial banks,and constructs a comprehensive risk management system for banks under the blockchain technology scenario.