Advances in Economics, Management and Political Sciences

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Proceedings of the 7th International Conference on Economic Management and Green Development

Series Vol. 39 , 10 November 2023


Open Access | Article

Blockchain Technology Empowers China's Green Finance Innovation Development

Dongming Zhuang * 1
1 Tianjin University of Finance and Economics

* Author to whom correspondence should be addressed.

Advances in Economics, Management and Political Sciences, Vol. 39, 114-120
Published 10 November 2023. © 2023 The Author(s). Published by EWA Publishing
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Citation Dongming Zhuang. Blockchain Technology Empowers China's Green Finance Innovation Development. AEMPS (2023) Vol. 39: 114-120. DOI: 10.54254/2754-1169/39/20231945.

Abstract

Financial technology and green finance have an irreplaceable position in today's society. The relationship between the two is becoming increasingly close due to the diversification of economic development. For a long time, with the main support of national banks, China's green finance has been initially developed, but there are still many defects in its development, mainly facing five major challenges of imperfect information sharing, high riskiness of green projects, low participation of green industry, lack of effective regulatory mechanism and too single green financial products. By systematically analyzing the problems faced in the development of green finance in China, this paper aims to propose five specific suggestions and solutions by combining the four characteristics of blockchain: distributed ledger, decentralization, de-trust and non-tamperability, as well as its three application types of public chain, private chain and alliance chain to improve the information sharing system, use smart contracts to reduce risks, promote the transformation of small and micro enterprises through inclusive finance, introduce sandbox supervision mechanism and increase supervision, and enrich green financial service products. The use of blockchain features can provide feasibility for solving the current dilemma of green finance development and empower the innovative development of green finance.

Keywords

financial technology, blockchain, green financial innovation

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Data Availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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Volume Title
Proceedings of the 7th International Conference on Economic Management and Green Development
ISBN (Print)
978-1-83558-099-8
ISBN (Online)
978-1-83558-100-1
Published Date
10 November 2023
Series
Advances in Economics, Management and Political Sciences
ISSN (Print)
2754-1169
ISSN (Online)
2754-1177
DOI
10.54254/2754-1169/39/20231945
Copyright
© 2023 The Author(s)
Open Access
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Copyright © 2023 EWA Publishing. Unless Otherwise Stated