The role of blockchain technology in advancing sustainable energy with security settlement: enhancing security and efficiency in China’s security market
Blockchain technology has the potential to revolutionize securities settlement systems, offering an efficient, reliable, and cost-effective alternative to traditional methods. Its features, including distributed data authenticity, programmability, and scalability, can enhance security and efficiency...
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| Format: | Article |
| Language: | English |
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Frontiers Media S.A.
2023-09-01
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| Series: | Frontiers in Energy Research |
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| Online Access: | https://www.frontiersin.org/articles/10.3389/fenrg.2023.1271752/full |
| _version_ | 1797681901517930496 |
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| author | Wang Weixiong |
| author_facet | Wang Weixiong |
| author_sort | Wang Weixiong |
| collection | DOAJ |
| description | Blockchain technology has the potential to revolutionize securities settlement systems, offering an efficient, reliable, and cost-effective alternative to traditional methods. Its features, including distributed data authenticity, programmability, and scalability, can enhance security and efficiency in China’s securities market, while promoting a sustainable energy future. However, to fully leverage the benefits of blockchain in securities registration and settlement, it is crucial to address algorithmic loopholes and operational risks associated with smart contracts. Establishing blockchain technical standards and rules is also necessary to ensure smooth system operation. Furthermore, given the uncertainty of the final settlement time point, adherence to decentralization principles and the incorporation of embedded technology for supervision are essential. Legislative measures are required to regulate smart contracts and mitigate systemic risk effectively. This will ensure a stable settlement time expectation and enable fair allocation of legal responsibility among the involved parties. Additionally, other regulatory approaches should be implemented to provide effective supervision and adapt to the rapid development of blockchain. By addressing challenges and risks, blockchain’s full potential can be realized, enabling a sustainable energy future, while enhancing security and efficiency in China’s securities market. |
| first_indexed | 2024-03-11T23:51:44Z |
| format | Article |
| id | doaj.art-fe5128e62e984872a1121a3184701758 |
| institution | Directory Open Access Journal |
| issn | 2296-598X |
| language | English |
| last_indexed | 2024-03-11T23:51:44Z |
| publishDate | 2023-09-01 |
| publisher | Frontiers Media S.A. |
| record_format | Article |
| series | Frontiers in Energy Research |
| spelling | doaj.art-fe5128e62e984872a1121a31847017582023-09-19T07:16:48ZengFrontiers Media S.A.Frontiers in Energy Research2296-598X2023-09-011110.3389/fenrg.2023.12717521271752The role of blockchain technology in advancing sustainable energy with security settlement: enhancing security and efficiency in China’s security marketWang WeixiongBlockchain technology has the potential to revolutionize securities settlement systems, offering an efficient, reliable, and cost-effective alternative to traditional methods. Its features, including distributed data authenticity, programmability, and scalability, can enhance security and efficiency in China’s securities market, while promoting a sustainable energy future. However, to fully leverage the benefits of blockchain in securities registration and settlement, it is crucial to address algorithmic loopholes and operational risks associated with smart contracts. Establishing blockchain technical standards and rules is also necessary to ensure smooth system operation. Furthermore, given the uncertainty of the final settlement time point, adherence to decentralization principles and the incorporation of embedded technology for supervision are essential. Legislative measures are required to regulate smart contracts and mitigate systemic risk effectively. This will ensure a stable settlement time expectation and enable fair allocation of legal responsibility among the involved parties. Additionally, other regulatory approaches should be implemented to provide effective supervision and adapt to the rapid development of blockchain. By addressing challenges and risks, blockchain’s full potential can be realized, enabling a sustainable energy future, while enhancing security and efficiency in China’s securities market.https://www.frontiersin.org/articles/10.3389/fenrg.2023.1271752/fullblockchainsettlementregulatory innovationsettlement systemdistributed data authenticitysmart contracts |
| spellingShingle | Wang Weixiong The role of blockchain technology in advancing sustainable energy with security settlement: enhancing security and efficiency in China’s security market Frontiers in Energy Research blockchain settlement regulatory innovation settlement system distributed data authenticity smart contracts |
| title | The role of blockchain technology in advancing sustainable energy with security settlement: enhancing security and efficiency in China’s security market |
| title_full | The role of blockchain technology in advancing sustainable energy with security settlement: enhancing security and efficiency in China’s security market |
| title_fullStr | The role of blockchain technology in advancing sustainable energy with security settlement: enhancing security and efficiency in China’s security market |
| title_full_unstemmed | The role of blockchain technology in advancing sustainable energy with security settlement: enhancing security and efficiency in China’s security market |
| title_short | The role of blockchain technology in advancing sustainable energy with security settlement: enhancing security and efficiency in China’s security market |
| title_sort | role of blockchain technology in advancing sustainable energy with security settlement enhancing security and efficiency in china s security market |
| topic | blockchain settlement regulatory innovation settlement system distributed data authenticity smart contracts |
| url | https://www.frontiersin.org/articles/10.3389/fenrg.2023.1271752/full |
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