Supervision Research On The Application Of Blockchain Technology In The Financial Field

With the development and iteration of internet big data,the digital password currency represented by Bitcoin has attracted people's attention,and the underlying technology of blockchain as bitcoin has also been explored.The core technology is to build a global distributed database that can effectively record the relevant transactions and specific details,thereby ensuring the stability of the data information transmission.The blockchain technology changes personal trust into machine trust,and it proposes to construct a new credit ecological model,which reduces the cost and improves the efficiency of value interaction.Although the research on blockchains is relatively numerous at present,there are still few researches across computer,finance,and legal disciplines.This article aims to grasp the regulatory status in the financial sector through comprehensive analysis of blockchain technology,and put forward targeted regulatory advice.This article mainly discusses from the following aspects: The first part begins with the basic concepts and characteristics of blockchain technology,and then extends to the evolution process of technology,aiming to demonstrate the advanced nature and development potential of blockchain technology;The second part introduces the application of blockchain technology in the financial field,and compares the regulatory attitudes of the representative countries for the application of blockchain technology in the financial field.The third part mainly analyzes the potential risk and problem of mining blockchain technology in the financial field,and then made an in-depth analysis of the reasons behind the problems;the fourth part proposes some suggestions on the improvements of legal supervision,points out the necessity to improve relevant legislation on blockchain technology and to clarify the regulatory bodies' function,duty and obligations,make a balance between technological innovation and legal supervision,and to utilize the concept of “regulatory sandbox” in foreign countries and experiment a flexible monitoring model.It is necessary to release market dynamism to ensure the free development of technology,and to fully protect transaction security and consumers' rights and interests.In this way can the government maximize the expected benefits brought by blockchain technology within the scope of the manageable risk.