Research On Local Government Debt Management From The Perspective Of Blockchain

On October 24,2019,the Political Bureau of the CPC Central Committee carried out the 18 th collective learning on the development trend and current situation of blockchain technology.According to the emphasis of General Secretary Xi,we should try our best to accelerate the development of industrial innovation and blockchain technology,and take blockchain as an important breakthrough of core independent innovation.The era of blockchain technology4.0 is coming,and the application of blockchain is gradually extending from the financial field to the social field.For the government,it will face new opportunities and challenges.Blockchain can effectively promote the transformation of government functions and roles,ensure the security of government data,promote the transparency of government management and service process,and flatten the organizational structure,which plays a positive role in building a trustworthy and intelligent government.With the gradual slowdown of domestic economic growth,the government put forward the concept of "new normal of economy".In recent years,due to structural adjustment,real estate regulation and macroeconomic tightening have been caused.Therefore,the national development and Reform Commission has lowered the threshold of debt issuance,resulting in local governments frequently using urban investment and other ways to expand debt,and making debtleverage more hidden under financial innovation models such as PPP,The structure is more complex,the transparency is reduced,and the hidden debt risk is increased.Financial security is an important foundation for the stable and healthy development of economy.For example,to prevent the debt risk of local government is the inevitable requirement and the most important thing to ensure the financial security and keep the bottom line of systemic and regional risks.the overall risk is greater.This paper first summarizes the development of blockchain technology and the research of local government debt,and explains the concept and characteristics of blockchain technology.Secondly,it analyzes the current situation and management mode of local government debt in China,and summarizes the existing problems in local government debt management.Thirdly,based on the characteristics of the blockchain,such as decentralization,information sharing,traceability and security,the blockchain technology is applied to the four scenarios of budget management,government procurement,tax collection and management and local financing platforms.With the help of the blockchain technology,the transparency of local government's debt behavior is effectively improved,the debt behavior is further standardized,and the information of relevant financing platforms is as open as possible So as to strengthen local government debt risk control.At the end of this paper,we give an example of how to build blockchain,its advantages and its value.This paper pays attention to practicality,and the conclusion is valuable,which is helpful for local government to control the scale of debt reasonably,avoid debt risk,andprovide some reference for the government debt risk management of relevant departments.