Research On Legal Issues Of Public Offering Of Stocks Under Blockchain Technology

With the rapid development of financial technology,blockchain technology is gradually becoming known as a disruptive and innovative technology.The core technologies and features of blockchain make blockchain technology widely used and have major applications at different stages.At this stage,it is in the blockchain 2.0 stage.Both theory and practice are actively exploring the changes brought by the blockchain technology to the securities market,including specific application scenarios such as securities issuance,securities trading,securities registration and settlement.The stock public offering system,as an important part of the securities market,even affects the development direction of the securities market.Therefore,this paper decides to choose the specific application scenario of stock public offering,and discusses the relevant legal issues of the stock public offering system under the blockchain technology.By analyzing the technical advantages of the blockchain,the current problems of the stock public issuance system can be solved,and the blockchain technology will also bring profound legal changes to the stock public offering system,and finally explore the evolution of the stock public offering under the blockchain technology.path.In addition to the introduction and conclusion,this article is divided into four parts:The first part mainly introduces the four core technologies,main features and types of blockchain technology.The blockchain technology also has broad application prospects,not only in the digital currency field,but also in various financials such as securities,banks and bills.The fields have application prospects,and may expand to areas other than finance,such as government administration and cultural sciences in the future.This will lay the groundwork for the analysis of the technical advantages of blockchain technology to optimize the stock public issuance system.The second part,by combing the technical advantages of the blockchain and the theoretical basis and practical problems of the stock public issuance system,explains the technical advantages of the blockchain in line with the theoretical logic of stock public offering,and the technical advantage can solve the public offering of stocks in practice.Current issue.The stock public issuance system has long been bound by the ruling ideology.The commercial credit system deviates.The existence of confusing functions between the sponsor institution and the underwriters has led to the lack of assistance in information disclosure obligations.There are also many problems in the public issuance of stocks and low efficiency.The technological advantages of blockchain technology,such as algorithm credit,distributed ledger technology,and decentralization,can solve the practical problems of the stock public issuance system and optimize the stock public offering system.The third part analyzes the institutional changes brought by the blockchain technology to the stock public offering system.Blockchain technology has two-sidedness.Blockchain technology can solve new problems in the stock public offering system,and it will also create new problems.If the professionalism of the technology increases the difficulty of administrative supervision,the game between the rights,powers and obligations of the new stock issuance is more complicated,and the sponsorship guarantee liability has the problem of attribution determination.Therefore,the institutional response to the public offering of stocks under blockchain technology,in addition to optimizing the public offering system of stocks,must also reasonably respond to the legal changes brought about by blockchain technology.The fourth part proposes corresponding countermeasures for the legal changes brought by the blockchain technology for the stock public offering system.It is necessary not only to establish the legal concept of technical governance and functional supervision,but also to grasp the development direction of the advancement,and to design the rules for the public issuance of stocks under the blockchain,making it feasible and operable,and finally innovating at the regulatory level.Put the last one off.