New Approaches to Incentivize Technological Innovation in the Digital Economy:Discussion on the Application of Smart Contracts
Technological innovation can enhance a company's competitiveness and profitability.However,most of the innovation activities within companies are carried out by internal researchers who often lack sufficient incentives and rewards,leading to a lack of innovation drive.This article focuses on the specific details of technological innovation and examines the incentives for researchers involved in innovation activities.Firstly,it analyzes the problem of inadequate incentives for inter-nal research innovation within organizations.Then,it constructs a dynamic mechanism from the perspective of mechanism design to effectively address the issue of insufficient research input.Finally,it introduces the use of smart contracts in blockchain technology within the digital economy to implement the incentive framework proposed in this article.Addition-ally,it suggests enhancing infrastructure development,promoting digital transformation within companies,establishing com-prehensive legal regulations,and proposing policies to protect and encourage technological innovation.
digital economytechnological innovationsmart contractsmechanism design
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