Blockchain Industry Development:Economic Characteristics and Sino-American Comparison
Blockchain embodies two core characteristics—decentralization and traceability,complemented by four derived features:immutability,trustlessness,information transparency,and anonymity.These attributes,in turn,give rise to five significant economic characteristics applicable in the economic domain:mitigating information asymmetry,reducing organizational concentration,providing credible commitments,generating new value targets,and diminishing transaction costs.The effective realization of these crucial economic features of blockchain depends on its successful integration with industries.Through a comparative analysis of the blockchain industries in China and the United States,it is evident that China exhibits a more cautious attitude towards blockchain application,coupled with robust policy guidance,primarily focusing on the real economy.In contrast,although the United States lacks explicit blockchain policy direction compared to China,it boasts significant advantages in technology and talent development.The scale of blockchain applications in the United States is globally leading.In summary,China's blockchain industry faces challenges such as incongruence between financial policies and blockchain characteristics,relative deficiencies in supporting infrastructure for integrating blockchain with the real economy,the need for further refinement of applicable domains,and technological enhancements.To further propel the development of China's blockchain industry,efforts should be directed towards central bank digital currency development,strengthening digital infrastructure,targeted promotion of blockchain development,and enhancing foundational blockchain research.