The Driving Force Of Blockchain Technology To The Development Of Inclusive Finance And The Risk Prevention

Inclusive finance can be traced back to the microfinance model of the Grameen Rural Bank of Bangladesh,which was established in the 1980 s.The term inclusive finance was formally introduced in 2005-the credit year,it was proposed by the United Nations and has received widespread attention from the international community.On January 15,2016,the State Council issued the Plan for the Promotion of Inclusive Finance Development(2016-2020),which for the first time included the development of inclusive finance as a national-level strategic plan.The report establishes the guiding ideology of advancing inclusive financial development by combining international experience with the development of Chinese characteristics;determining the four basic principles for development,placing risk prevention at a very important position,adhering to the concurrent supervision and innovation;and committing to the development goals of an inclusive financial system in line with a well-off society by 2020.The development of finance is inseparable from the deep integration of science and technology,Inclusive finance has been olong the way.From the initial simple online banking to today's inclusive finance model combined with artificial intelligence,big data,and cloud computing,scientific and technological progress is playing an increasingly important role in promoting the in-depth development of inclusive finance.On October 31,2019,the White Paper on the Development of Digital Inclusive Finance(2019)was officially released at the main forum of the China Fintech Industry Summit.The white paper points out that digital inclusive finance has increasingly become an important direction for the comprehensive and sustainable development of inclusive finance.This article focus on the latest blockchain technology.By analyzing the essential characteristics and technical architecture of blockchain technology,the characteristics of the most applicable areas of blockchain technology are be derived.Combining these characteristics,the research object is turned to inclusive finance.Based on a review of existing domestic and foreign research,inclusive finance has been facing three major pain points since its birth: how to become more popular,how to benefit more,and how to achieve sustainable business development.Based on these three major pain points,this article first analyzes in detail the compatibility of blockchain technology with inclusive finance,and points out that blockchain technology is a breakthrough for the further development of inclusive finance;next,we summarize the development process of digital inclusive finance,and analyze the digital inclusive financial models of "traditional Internet + inclusive finance","big data + inclusive finance",and "artificial intelligence + inclusive finance",and points out the problems in the current model of inclusive finance;then analyzed the unique solution that the emerging technology of the blockchain can provide to these problems.And carried out a detailed analysis from three major scenarios of P2 P,smart contract,and credit reporting system;finally,in the risk measurement section,this article sorted out 19 key risk factors.From a macro perspective,the various risks that may occur during the practical application of blockchain technology to the inclusive finance field are analyzed.Using the risk interpretation structure model,the complex risk system that the blockchain technology drives the development of inclusive finance is decomposed into several subsystems,forming a five-level hierarchical structure model,which transforms the original huge risk system into an intuitive structure with good and clear relationships.Then put forward corresponding risk prevention recommendations from the four levels of technology,supervision,law,and education.This article analyzes an inclusive financial model that is currently in the research stage and is trying to be promoted.From the combing of existing research literature,it can be found that there is less research on the application of blockchain to inclusive finance in the current research,and risk management is rarely involved,but the application of blockchain technology and its healthy development is indeed the key to the sustainability of inclusive finance.