A Study On Law Issues Of Blockchain In The Application To Financial Area In China

The application of blockchain technology in the field of finance will cause significant changes in the financial sector,and this phenomenon has now been highly concerned by the world.It is one of the core issues to study the construction of the legal system in the application of blockchain in financial area because it has both theoretical significance and practical value.There are seven chapters in this dissertation.Apart from the introduction and conclusion,the rest are mainly discussed the following issues:The first chapter focuses on the concept and origin of blockchain,including its conception,type,operation mode,features,as well as technological origin to elaborate the advancement of the blockchain technology.In the second chapter,three types of the blockchain in the application area are introduced,namely digital currency(version 1.0),intelligent contract(version 2.0),and application in other areas(version3.0).Also,a sketch of the characteristics of blockchain technology and its application is presented.Followed by a statement on the current situation and specific measures of domestic and local governments.Meanwhile,it is of great importance to study the current situation of blockchain in five nations,such as Britain,the US,Russia,the EU,and Singapore,for ofwhich have different status and economic strength.The third chapter of this paper mainly expounded the following issues: the relationship between blockchain and Internet Finance and the necessity,feasibility and inportance of the application of blockchain.To be detailed,the discussion makes explicit about relationship between block chain and Internet Finance,and laid the foundation of the "blockchain & finance".It elaborates the feasibility of the financial blockchain by using the bitcoin and the attitude of the central bank.It is illustrated that blockchain has drawn a positive impact on finance through the discussion of credit,payment,asset management,securities,clearing and settlement,and user identification.The fourth chapter,through the discussion of bitcoin,displays the legal issues such as legislation,regulation and so on,which have been or will be caused by the application of financial blockchain.This chapter described the lack of legislation,the specific regulatory issues,the security of personal privacy,the problem of monopoly,the application of "Impossible Triangle",and the technical problem.At the end of this chapter,it is analyzed the legal problems caused by the intelligent contract.It would determine the basis for the next chapter.In the fifth chapter,some suggestions are presented to solve the legal problems caused by the application of financial blockchain,including putting forward to legislative principle,suggestions on chain enterprise,the supervision subject and the consumer,and regulatory principle and solutions.The innovation of this paper mainly has the following three aspects:First,few legislative research literature is published on the laws and regulations related to the supervision of the financial blockchain.Second,the current legal problems caused by the application of the financial block chain have been systematically discussed for the first time.Third,because there is no supervision of the financial blockchain laws and regulations,research literature and systematic summary of the problem,so there is no corresponding improvement measures.Therefore,this paper puts forward some countermeasures to improve the legislation and supervision of the financial block chain from the perspective of the parties.On contrast,limitations of this paper are as follows: on one hand,little research literature in other languages is quoted due to the author's limited foreign language.On the other hand,the depth of the discussion is not enough for most of the research on the application of financial blockchain is drawn on the technological development,and the application is still being updated,which results in that the analysis only focuses on the existing research data,and cannot predict the future direction of blockchain in application.