The Impact of Blockchain Technology on the Financial and Economic System
期刊: 《Frontiers of social sciences》 DOI:10.64649/yh.fss.2025030010 PDF下载
摘要
”algorithms replacing trust”—has led to its widespread application in the financial sector. Amid the wave of financial digital transformation, blockchain technology, with its decentralization, immutability, and traceability, has become a key force reshaping the financial and economic system. This paper integrates panel data from 42 major global economies spanning 2018 to 2023 and micro-survey data from 120 financial institutions to systematically analyze the impact mechanism of blockchain technology on the financial and economic system and explore its synergistic effect with financial artificial intelligence (AI). The research findings reveal that for every 1-percentage-point increase in blockchain technology penetration, financial transaction efficiency rises by 3.2%, financing costs decrease by 0.8 percentage points, and the systemic risk index drops by 0.05. Its impact is realized through a three-stage transmission process of “resource allocation optimization - risk management and control enhancement - market ecosystem innovation”. The synergistic mediating effect of smart contracts and AI risk control accounts for 41%, while the mitigating effect of distributed ledgers on information asymmetry accounts for 33%. Currently, the application of blockchain faces dilemmas such as insufficient technical throughput (an average of 15-30 transactions per second), fragmented regulatory standards (only 38% of economies have issued specialized rules), and high application costs for small and medium-sized enterprises (exceeding 2 million yuan). Based on this, a three-dimensional path of “technological collaborative innovation + regulatory mechanism adaptation + ecosystem cultivation and empowerment” is constructed to provide support for the transformation of the financial and economic system towards efficiency, security, and inclusiveness.
关键词
Blockchain Technology; Financial and Economic System; Financial Artificial Intelligence; Resource Allocation; Risk Management and Control
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