Research On Credit Governance Based On Blockchain Technology

Blockchain is defined as " The Trust Machine " by the Economist.It is the key core technology from the information internet to the value internet.It is a technological revolution that can change the production relationship in the era of digital economy.Under the condition of blockchain technology,the cooperation order changes from centralization to decentralization.Credit is one of the core production relations in the operation of modern market economy.Blockchain technology may reshape the credit mechanism of human society.On the theoretical level,this paper combs the academic pedigree of trust,credit and blockchain,expands the analysis method of evolutionary economics,analyzes the consensus mechanism of blockchain and the principle of projecting blockchain machine trust to human social credit governance,and studies the credit characteristics of decentralized rational individuals and the stability of credit cooperation under the condition of bounded rationality by using game theory.Furthermore,we analyzes the credit evolution and variation of social network formed by Public Blockchain,Private Blockchain and Consortium Blockchain from aspects of individual and group behavior.At individual behavior,by using microeconomic analysis method,we deduced the credit preference evolution,credit cooperation field and market equilibrium state of Token Economy in Public Blockchain;at group behavior,virus infection model is introduced to deduce the credit variation of DeFi(Decentralized Finance)in the environment of Private Blockchain random network and scale-free network of Consortium Blockchain.On the application level,this paper focuses on the optimization and improvement of credit evaluation mechanism based on blockchain technology,constructs two improved models of personal credit evaluation and SMEs credit evaluation,and makes an empirical study with practical data.We introduce blockchain's " CoinDays Destroyed " technology into personal credit investigation,build a " CoinDays Destroyed " credit evaluation model,and make an empirical study by using machine learning algorithm.Furthermore,we add the unchangeable enterprise owner characteristic information variables into the traditional credit evaluation model,build a blockchain enhanced information SMEs credit evaluation model,and make an empirical study by using logistic regression calculation.The empirical study verifies that the personal and SMEs credit evaluation model based on blockchain technology improvement is better than the traditional credit evaluation model in distinguishing ability and identifying ability,and has a good application prospect.Facing the future digital world,the blockchain distributed ledger system will deepen(rather than replace)the traditional centralized credit creation and governance system created by the central bank and expanded by commercial banks.And then,extend from the credit governance of human society to the credit governance of the physical world,go deep into the device governance on the " Cloud,Pipe,Terminal and Edge "information service architecture through "+blockchain" and "blockchain+",so as to realize the " Device Democracy" from everything interconnection,everything intelligence to everything ledger.Blockchain technology is still in the initial stage to reconstruct the structural relationship and operation mode between credit elements,and to transform the mechanism of credit generation,development,application,expansion and supervision,which will be further deepened in the future.