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Blockchain technology offers new opportunities for enhancing credit governance. It enables the establishment of transparent and trustworthy credit systems through decentralized records, smart contracts, and privacy management. This technology has applications in cross-border payments, digital identity, and real estate registration, among others. For instance, it can facilitate faster and more secure cross-border transactions, automate financial contracts, and establish decentralized digital identity systems. However, challenges in technology, law, and regulation need to be addressed for successful implementation. Joint efforts are required to fully leverage the potential of blockchain in improving credit governance. Overall, blockchain has the potential to significantly enhance the construction of urban credit systems, but its implementation requires collaboration and overcoming various challenges.
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Pu Kan (2024) studied this question.
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