Application of Block Chain Technology in the Financial Industry and Its Legal Norms

DOI

10.2991/icmess-18.2018.404How to use a DOI?

Keywords

Financial; Block chain technology; Legal; Application

Abstract

Financial block chain technology is a frontier technology of financial science and technology, which plays an important role in the business processing and expansion of commercial banks under the background of Internet. This paper introduces the applications of block chain including the application of the three types of block chain, namely, digital currency block chain 1.0, intelligent contract block chain of 2.0, and block chain 3.0. In addition to the financial sector, the relationship between block chain and Internet finance is also expounded. Then, mainly through the case of bitcoin, the application of financial block chain has been or will be legislative and regulatory, which can lead to legal issues like lack of legislation, specific regulatory issues, privacy security issues, monopoly and technical problems. Finally, this paper analyzes the legal problems and puts forward some suggestions to relieve the legal problems caused by the application of financial block chain.

Copyright

© 2018, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Xiaowei Zhou
AU  - Junnan Dong
AU  - Xinyin Zhang
AU  - Pei Zhang
PY  - 2018/06
DA  - 2018/06
TI  - Application of Block Chain Technology in the Financial Industry and Its Legal Norms
BT  - Proceedings of the 2018 2nd International Conference on Management, Education and Social Science (ICMESS 2018)
PB  - Atlantis Press
SP  - 1811
EP  - 1814
SN  - 2352-5398
UR  - https://doi.org/10.2991/icmess-18.2018.404
DO  - 10.2991/icmess-18.2018.404
ID  - Zhou2018/06
ER  -