Research On Fintech Driving The Development Of Green Finance

With the continuous development of economy and society,new technologies such as artificial intelligence,blockchain,cloud computing,big data and so on are constantly emerging,and have exerted a huge impact on human production and life style.As a technology-driven financial innovation,fintech will impact the traditional financial format and change the current financial paradigm.At the same time,green development has become an international consensus.As the core of modern economy,finance plays an important role in promoting social and economic sustainable development,so green finance emerges at the historic moment.Information asymmetry and transaction cost are eternal problems faced by finance in the process of resource allocation,and green finance is no exception.Based on modern information technology,fintech has a unique advantage in solving these two problems.Fintech and green finance are inherently coupled.Fintech has four characteristics: asset-light,low profit margin,customeroriented,wide service coverage and decentralization,these characteristics enable fintech to be effectively applied to green finance to solve the problems of information barriers between departments caused by information asymmetry,high risk of green projects,and difficulty in supervision,and to expand participation subjects of green finance and extend the coverage of green finance with its universality.China is in a critical period of the transformation of new and old drivers of growth.Green finance is an important way to promote supply-side reform.Fintech provides a new way to break through the bottleneck of green finance and realize the sustainable development of green finance.The academia has produced a lot of achievements on fintech and green finance,which is of great benefit to the theoretical development and policy formulation and implementation.Based on previous studies,this paper explores the convergence of fintech and green finance and demonstrates the driving effect of fintech on green finance.Firstly,this paper illustrates the logical basis of the combination of fintech and green finance from the characteristics of fintech and the bottleneck of green finance.Secondly,take the block chain technology,the most representative technology in fintech,as an example to imagine the possible application scenarios of block chain technology in green finance.After theoretical analysis,this paper constructs a fixed effect model through empirical method to conduct regression verification on panel data of 31 provinces,cities and autonomous regions to verify the driving effect of fintech on green finance.The empirical results show that fintech plays a significant role in driving the development of green finance.Finally,this paper proposes three major problems that may occur when fintech and green finance are compatible: technical problems,acceptability problems,and regulatory problems,and proposes corresponding countermeasures.