The Impact of Blockchain Technology on Financial Markets and Its Future Trends: An Economic Perspective Based on Data Analysis

Abstract

Based on the economic perspective of data analysis, this paper deeply discusses the impact of blockchain technology on the financial market and its future trend. By using econometrics, we systematically analyze how blockchain technology can change the operation mechanism of financial markets, improve transaction efficiency, reduce transaction costs, and enhance the security and transparency of financial markets. The study has found that the decentralized nature of blockchain technology can help to break down the barriers of the traditional financial market and promote the popularization and inclusiveness of financial services. At the same time, the automatic execution function of smart contracts simplifies the process of financial transactions and reduces the risk of human intervention and fraud. In addition, the blockchain technology has also enhanced the trust mechanism of the financial markets by improving the security and traceability of the data. In terms of econometric analysis, we use a large amount of financial data to empirically test the impact of blockchain technology on the performance of the financial market by building regression models, time series analysis and other methods. The results show that there is a significant positive correlation between the application of blockchain technology and financial market efficiency, liquidity and stability. Looking into the future, with the continuous innovation and improvement of blockchain technology, its application in the financial market will be more extensive and deeper. On the one hand, blockchain technology is expected to promote the further digitalization and intelligence of the financial market, and improve the convenience and personalization of financial services. On the other hand, blockchain technology will also promote the cross-border integration and innovation of the financial market, and inject new vitality into the global economic development.