The Gene of the Digital Economy
Yijie Li · Highlights in Business Economics and Management · 2022
At present, blockchain technology has great application value and broad application prospect in various economic fields. This paper analyzes the impact of blockchain technology on economic efficiency by reviewing the basic concepts, working principles and main features of blockchain technology and applying the theory of new institutional economics, and finds that the application of blockchain technology can effectively reduce transaction costs, promote self-execution of transaction contracts and solve the problem of information asymmetry, which can greatly improve the efficiency of the economy. Finally, policy suggestions are proposed to deepen the exploration and research of blockchain technology, strengthen the integration and development of blockchain and emerging technologies, and accelerate the application of blockchain technology on the ground in various fields.