The Application of Block Chain Technology in China’s Equity Transaction
WANG Jin-song1，HAN Cai-zhen2 and HAN Ke-yong3
（1.Economics and Management School of Hangzhou Normal University，Hangzhou，Zhejiang311121，China；2.Renmin University of China，Beijing1000872，China；3.On Economic Problems of Shanxi Academy of Social Sciences，Taiyuan，
Abstract：Block chain technology，which is based on encryption algorithm，has such characteristics as real data，sharing， safety，and traceability. And this technology can help us to solve the problems with financing industry，such as the high transaction cost，the significant systematic risk and difficulties in supervision，and the imperfect technology of data interface. From the current situation and characteristic of China’s security market development，block chain technology should be firstly applied to regional equity transaction，institutional market，and the OTC market；and most of these transactions will be taken place in consortium block chain to better maintain investors’interests and make the flow and storage of data to be more convenience by constructing such modules as equity registration，valuing，issuing and transaction，withdrawing，supervision， risk control，clearance and settlement，and stock holders (small and medium investors) voting. While improving and making innovation in traditional equity transaction platforms，block chain technology also leads to some technological and legal problems.
Key words：block chain technology；equity transaction；consortium block chain；digital economy；fintech