Economic Research On Block Chain Technology

In recent years,block chains have become the increasing warming concept in the global Internet field,especially in the financial Internet community.In China,the block chain has attracted more and more attention and exploration.Although Bitcoin has been controversial since its inception,and can not even be regarded as a "currency" by the government and monetary authorities,the block chain technology used by Bitcoin has attracted wide attention,including the government and monetary authorities.At present,most of the studies on block chains are still in the initial stage,mainly the overview of technology and principle.In this paper,starting from the economic significance of the block chain,we explore the possible application scenarios and try to introduce them.Firstly,this paper introduces the overview of block chain technology,from the perspective of economics,analyses the concept and thought of "block chain" existing in traditional economic theory.Then,from the development of money and the evolution of books,it expounds the historical context of block chain evolution,predicts the emergence of distributed autonomous organizations from the perspective of institutional economics,and discusses the emergence and development of block chain technology.Secondly,the economic significance brought by block chain technology is analyzed,which can help us solve the trust problem in the existing field,simplify the transaction process and reduce the transaction cost.Then it introduces the possible application of block chain technology in central bank monetary management.Because of the high cost of banknote circulation and the obstacles to the transmission of monetary policy,block chain technology provides new ideas for central bank.In addition,combined with the specific business of trade settlement,starting from the problems of traditional trade settlement,this paper summarizes the pain points in the existing trade settlement methods,and analyzes the specific case of Ripple cross-border payment,through the introduction of its role in the process and operation mechanism,verifies the advantages of block chain technology in the field of trade settlement,The application scenarios of block chain technology can be distributed in various fields,such as commerce,art,justice,science and technology,politics,and even society.Finally,in view of the current situation of block chain technology,some suggestions are put forward,such as strengthening technical research,carrying out pilot projects in relevant fields,establishing a judicial supervision system on block chain technology,formulating and promulgating supporting policies for the development of block chain,to guide this technological innovation to a more rational and prosperous road.