Digital Circulation and Optimal Allocation:The Legal Framework for Digital Finance Promoting New Productive Forces
Finance can optimize digital circulation and optimal allocation of elements.Restricted by its inherent flaws and the technology and regulation of the industrial era,traditional finance lags macroeconomic changes,relies on price signals that exhibit uncertainty,and is increasingly consolidated by large financial in-stitutions that lack the innovation and flexibility to adapt to the demands of new combinations of elements in the digital age.Digital finance develops new productive forces in the dual dimension of improving traditional functions and realizing new functions,using the circulation of elements to drive the allocation of multiple ele-ments and amplifying the value creation of other elements in a multiplier manner.However,it also faces the constraints of the incompatibility of traditional financial systems and imperfect data governance systems.There-fore,it is necessary to construct a data infrastructure system that fairly distributes interests and activate value creation;promote the open sharing and capitalization of data to achieve the integrated flow of capital and data;establish a new financial legal system,respond to decentralized direct finance with distributed regulation,es-tablish a space for legal trial and error with regulatory sandboxes,and curb digital risks through RegTech.
Digital FinanceNew productive forcesData element×Coken
万方数据
维普
