Research On The Construction Of My Country's Credit Information System From The Perspective Of Blockchain

Both economic development and social operation are based on trust,especially China is now in a critical period of economic structural transformation,and the socialist market economic system and social credit system are also crucial to the establishment and improvement of the rule of law system.As the core part of the construction of the entire social credit system,a perfect credit system can effectively alleviate the inefficiency in market transactions caused by information asymmetry and excessive transaction costs.Therefore,we must pay more attention to this system.At present,China adopts a credit reference model led by the People's Bank of China and supplemented by other social institutions.Under the wave of big data on the Internet,this traditional credit system has exposed more and more drawbacks.For example,the coverage of the credit reporting range is low,and the sources of information are decentralized,making it difficult to establish a unified data sharing platform.In addition,whether it is government supervision or market competition,there are data protectionism such as unsmooth exchange of data information and ineffective and timely transmission.With the development of economy and society,citizens pay more and more attention to their own rights.The Internet greatly reduces the cost of data collection,but it also makes users' privacy more infringed and it is difficult to get effective relief.It can be seen that the traditional centralized credit information system has been difficult to adapt to the economic system reform brought about by science and technology.The emerging technology of blockchain,with its advantages of decentralization,openness,transparency,and non-tampering,has been closely integrated with finance,and a new type of trust model of "decentralization" has been formed with distributed network systems.Not only can it help us build a data sharing platform,break down data barriers and reduce the cost of credit reporting,but also ensure the integrity and accuracy of data during transmission through its encryption technology.Distributed ledger technology helps realize information disclosure and information sharing,and at the same time,smart contracts based on blockchain can also greatly improve the efficiency of economic operations,reduce intermediary costs,and achieve the Pareto Efficiency in economics.New technologies can also solve the phenomenon of investment and financing difficulties caused by micro and small business due to asymmetric information.This article is divided into four main parts.The first part explains the development of China's credit industry and the risks it faces in the new era.The second part introduces the development of blockchain technology and its important position in the financial field.It explains how to establish a "decentralized" sharing platform by explaining its operating principles.The third part demonstrates the combination of blockchain technology and credit information system,and demonstrates that the decentralized technology of blockchain from the perspective of trust helps the improvement of the centralized credit system.That is,the necessity and advantages of using the blockchain to empower the credit reporting system,including the ability to establish an information sharing platform,protect user data privacy,reduce credit reporting costs,and increase economic efficiency.The fourth part analyzes the risk challenges faced by blockchain technology from the perspective of concept,technology,law and talents,and proposes corresponding countermeasures.China is now in a critical period of economic and social transformation,and the arrival of the information age has given information an important economic value.The correct and reasonable application of blockchain technology can not only make up for the shortcomings of the current system,but also reduce the cost and eliminate data barriers under the existing framework,and enter the new era first.At the same time,financial technology has become a new trend in globalization.Blockchain technology is hot in various countries.It is the first to master its core and use its essence to occupy new heights in emerging industries.