Blockchain Industry Index Construction And Empirical Research Based On Internet News Text

With the continuous rapid development of blockchain-related technologies,the development of the blockchain industry has also received close attention from community.Once the blockchain,which is a representative of emerging technologies,is not used correctly,it is very likely to be used as a disruptor of market order.Therefore,it is quite necessary to track and monitor the development of the blockchain industry.This article attempts to construct a blockchain industry development index based on the text topic model,and proposes suggestions for the beneficial development of the blockchain industry.By collecting 6 famous news websites of 3 types of media which publish relative news to conduct two-dimensional analysis,namely index construction and empirical analysis.In terms of index construction,in order to ensure the rationality of index construction,two parallel methods based on topic models(LDA,STM)in text mining are used to construct two blockchain industry indexes,and correlation tests are performed to illustrate the the rationality of the index.In terms of empirical analysis,to explore whether there is an impact relationship between the constructed index and the price of digital currency(taking bitcoin as an example)and to explore the current development status of the blockchain industry as the purpose,we will first construct regression test on the index and bitcoin price to determine whether there is an impact relationship between the two.Secondly,according to the clustering results of the structured topic model,the interactive impact of text emotional composition covariates on the topic is considered,and further cluster the topics to explore the current status of the blockchain industry in the eyes of the news media,and put forward corresponding suggestions.The study found that,in the index construction dimension:the construction of the blockchain industry index based on the topic model in text mining is reasonable and feasible.In the empirical analysis dimension,(1)According to the regression model results,the blockchain industry development index constructed in this article can reflect the changes in the price of Bitcoin,and the two have an influential relationship.(2)The change in the blockchain industry development index is a leading indicator of Bitcoin's rise and fall.(3)According to the clustering results of the topic model,it can be seen that the blockchain industry in the eyes of the media mainly focuses on the five aspects of supervision,technology,application,security,and organization.(4)Finally,according to the analysis based on the interaction of covariates,the media has a negative attitude towards blockchain supervision and blockchain security dimensions.As for the technology dimension of the blockchain industry,the media's attitude changed from an early negative attitude to an optimistic attitude.And the attitude towards the two dimensions of blockchain application and blockchain organization is optimistic.In this paper,from the perspective of industry monitoring,we analyze the semantic theme of the blockchain media news text,construct the blockchain industry development index,and quantitatively reveal the relationship between it and the price of digital currency.It provides new ideas for data-driven industrial monitoring,and helps government regulators and emerging technology providers to adjust their strategies in a timely manner according to possible industrial changes.