Research On The Legal Issues Of China's Blockchain Technology In Financial Application

Block chain as the rising popularity of digital encryption currency such as COINS and gradually rise a new decentralized infrastructure and distributed computer technology,has caused the government departments,financial institutions,science and technology enterprises and capital market attaches great importance to and attention,block chain technology has a number of scenarios,one of the most widely used in the financial sector.The application of blockchain in the financial field is a possible representative of the financial industry in the future,which has outstanding advantages and features and a broad prospect.The report of the19 th National Congress of the Communist Party of China proposes to build an innovative country at a faster pace,advance key generic technologies,cutting-edge leading technologies and disruptive technology innovation,and provide strong support for building a strong cyber country,digital China and a smart society.The emergence of blockchain and its application and development in the financial field are bound to bring rare opportunities to the development of the whole society.However,with the impact of new technologies on the traditional financial system and the market reform,the trend of combination of finance and new technologies is prevailing,and risks and corresponding legal issues inevitably appear,posing certain challenges to the current regulatory rules in China.How to as dialectical and rational view of block chain technology applications in the field of our country finance brings opportunities and challenges,how to dock with the traditional financial regulation,establish perfect application block chain financial legislation and regulation,in view of the specific legal issues put forward reasonable countermeasures and Suggestions,is this article main research problems.This paper consists of five parts.The first part is the introduction of the paper,which first expounds the background and significance of the topic selection in this paper.Taking advancing cutting-edge technology and building digital power as the background proposed by the nineteenth report,the significance of Block chain in the financial application is expounded from both theoretical and practical aspects.Secondly,this paper introduces the current status of legal research onthe financial application of Block chain at home and abroad,elaborates the views of domestic scholars such as Yang dong and Li Shu Guang on the legal issues related to the financial application of Block chain,and foreign scholars mainly study the legal issues in the monetary field of Block chain.Finally,the research method and innovation of this paper are explained.The second part is the overview of the application of block chain in the financial sector,the first is the source of the concept and technology of block chain,concluded that technology is an open,transparent,ledgers for the traceability of the distributed system,distributed data storage,point-to-point transmission,consensus mechanism,encryption algorithm the new application of computer technology,such as pattern.Then the application of Block chain technology in payment and settlement,securities,supply chain finance,bill and bond market is introduced in detail.Finally,the reliability and issue of the application of Block chain technology in the financial field are expounded.In this way,we can understand the basic operating principles of Block chain technology and its application in the financial field,providing a theoretical basis for the study of legal issues in the future.The third part is a detailed introduction of the legal regulation status of foreign Block chain technology in financial application,and elaboration is made from the legal regulation status of the United States,Britain,Russia,Japan and other countries.Analysis of legal regulation of similarities and differences between different countries,this paper gives the block chain technology application of legal issues in the field of financial regulation which inspiration and reference,such as for the essential characteristics of block chain technology we should deeply understand and treat objectively,to encourage financial innovation of science and technology occupation future frontier highlands,to balance the relationship between the regulation and development.The fourth part mainly expounds the legal problems existing in the financial application of Block chain technology in China.It includes the problems in the basic legislation of Block chain,the problems in the supervision of different financial sectors,and the legal problems in the application practice of Block chain finance derived from Bitcoin and smart contracts.Analyze the cause and effect of the problem in detail.This chapter lays the foundation for the next one and serves as a connecting link.In the fifth part,the legal problems of the block chain technology in financial applicationare proposed in detail.First,establish the relevant legislative principles and regulatory principles of Block chain.Then,we will improve the supervision system of the Block chain in the financial application field,including the supervision body and the supervision mode.Finally,according to the block chain in specific legal issues in the practice of financial application put forward Suggestions and countermeasures,including improving the law system of investment and financing based on the block chain,building blocks,chain enterprise legal services system,strengthen the related block chain of personal information protection,promote the block chain technology in application in the field of regulation,etc.