Research On The Application Of Blockchain Technology In The Internet Credit Investigation Industry

With the rapid development of financial science and technology in all walks of life around the world,new technologies such as block chain,digital currency and big data are transforming the presentation of traditional finance,thus,the financial industry is undergoing a deep adjustment stage.Credit is the cornerstone of the entire financial industry,and the completeness of the credit market is directly related to the integration of enterprises,especially small and medium-sized enterprises which have contributed a large number of employment opportunitys,which also related to the cost and risk of financial institutions,and even to the total improvement of social benefits.Although the traditional credit investigation system in China has established relatively complete credit evaluation standards to some extent,the current credit investigation system in China mainly relies on the public credit investigation system constructed by The people’s bank of China and Baihang credit investigation.Among them,the data of the credit Investigation center of The people’s bank of China mainly come from traditional financial institutions,while the data of Baihang credit investigation mainly come from Internet financial institutions.However,Baihang credit investigation,which was established in 2018,is still in its initial development stage.Its credit investigation records have not yet covered complete population and historical data,and there is a serious information island phenomenon among data sources not included in the central Bank’s credit investigation database.Moreover,even for those credit users with traditional credit records,due to the complexity of traditional credit system materials,cumbersome process,slow approval,etc.The impact of factors,this part of users’ growing credit demand can not be fully met.However,the immutable traceability of blockchain technology naturally coincides with Internet credit investigation.Therefore,promoting the application of block chain technology in the field of credit reporting is conducive to breaking industry barriers and achieving "sharing credit",which finally contribute to expanding the financing scale of small and micro enterprises and improving the credit evaluation ability of financial institutions.Firstly,this paper makes a comparative analysis on the pain points of financial science and technology and Internet credit reporting.This part is the premise of applying Block Chain technology to Internet credit reporting.On the one hand,Block Chain technology has the whole process system of information collection,credit verification,approval and issuance,and wind control tracing.On the other hand,the data information of blockchain has the characteristics of immutable and complete traceability of the whole process,which fully meets the logic and demand of Internet credit investigation,and the acquisition cost of credit investigation data is significantly reduced.It should be very natural and necessary to apply block chain technology in the field of credit reporting.Secondly,from the perspective of personal credit data sharing,this paper uses the the block chain hierarchy model to store,validate and expand the rich data sources of Internet credit information,to encourage data sharers to break through the "information island" effect.Then improve the quality of credit data through data validation and data correction mechanism of hierarchical block chains.Empirical analysis relies on the analysis of Renrendai credit data to analyze the problem of Internet credit agencies sharing on personal credit data chains.Through empirical analysis of 14 Internet credit data indicators,the study concludes that under the condition of complete Internet credit information samples,the accuracy of default prediction is verified.The degree of accuracy is 77%,which is quite accurate.After excluding personal status,gender,savings account status and property status from the sample data,the accuracy of default prediction declines.By comparing the results of two tests,it is found that disabling some of the privacy information will reduce the accuracy of personal credit model,thereby affecting the credit risk assessment of Internet credit applicants.Thus,the allocation efficiency of Internet sharing credit investigation resources will be affected.Thirdly,this paper studies the impact of Cluster Ensemble Algorithm in block chains and machine learning on consumer credit data.Under this framework,the credit data of Internet consumer financial institutions are empirically analyzed to reflect the three core links of the analysis,verification and measurement of Internet credit information data.Through the empirical analysis of nearly 3,200 Internet financial customer samples,the results show that according to the different characteristics and preferences of different credit users,the clustering analysis of customers can ensure the accuracy of model screening,and the feature fusion part can solve the problem of information asymmetry.Besides,by subdividing soft information and hard information types,the security of credit investigation data and clustering fusion model can be improved.Then,this paper builds a solution of Internet Credit Reporting System based on Block Chain Technology for cloud computing platform to solve the problems of low credit coverage,information islands,lack of credit punishment mechanism,etc.The Credit Reporting Scheme based on Block Chain Cloud Computing Platform is designed by integrating the design of Internet Credit Reporting Architecture,the method of block chain proof in Credit Reporting Data Management,and the smart contract.From the cloud computing system internal and external data to form multi-source data block recording method and block structure composition,this paper studies the credit investigation data recording method and punishment mechanism based on block chain,and constructs the implementation mode of application.Finally,combined with the theoretical and empirical conclusions of this paper,relevant policy suggestions are put forward from the three perspectives of regulatory credit investigation data sharing by licensed institutions and blockchain support policies in order to promote the construction of concrete schemes and measures for the application of blockchain technology in Internet credit investigation in China.