Journal of Information Technology Services (한국IT서비스학회지)

Korea Society of IT Services (한국IT서비스학회)
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A Study on Adoption and Policy Direction of Blockchain Technology in Financial Industry

금융분야의 블록체인기술 활용과 정책방향에 관한 연구

  • 박정국 (금융결제원 연구소 신기술개발팀) ;
  • 김인재 (동국대학교 경영대학 경영정보학과)
  • Received : 2017.04.20
  • Accepted : 2017.06.23
  • Published : 2017.06.30
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Abstract

The financial industry recently introduces several issues for utilizing the blockchain technology as the core infrastructure of future finance. Blockchain, first introduced as the underlying technology of Crypto-currencies, Bitcoin is a technology that can ensure the integrity and reliability of data by verifying, recording, and storing data jointly in the network without a central administration organization or a manager. This blockchain has its potential power as a technology for issuing digital currencies, providing transparency, and securing record management, that is expected to be useful in the financial sector. At the same time, considering the characteristics of financial transactions which emphasize privacy, questions are raised about whether a blockchain structure in which information is distributed and shared among participants can be successful. How will we support to implement the potential of the blockchain in order to change the paradigm of the financial industry? How can we manage the side effects of blockchain effectively? Such a policy discussion is necessary. This study introduces the meaning of the blockchain technology, various utilization attempts, and possible problems facing technology from the viewpoint of financial industry, and suggests a policy direction for utilizing this technology as a catalyst to the progress of the financial industry or as a new technology power.

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