Trusted Data Exchange and Blockchain Smart Contracts in the "the Belt and Road" Digital Economy Cooperation

Abstract

With the acceleration of global integration and the rapid development of technology, economic cooperation and regional integration have become an undeniable force in today's world development. Especially with the implementation of the "the Belt and Road" strategy, this development trend is more obvious. This plan was launched by China in 2013 with the aim of promoting infrastructure construction, trade cooperation, cultural exchanges, common development, and regional cooperation in Asia, Europe, Africa, and other regions. With the rapid development of Internet, big data, artificial intelligence and other technologies, the digital economy has become an important driving force for the development of the world economy. It has not only changed the operation mode of traditional industries, but also spawned new industrial forms. However, in a network environment lacking trust, trustworthy communication of data is an important prerequisite for promoting active data sharing among network entities. Information security technology based on encryption technology can effectively solve problems such as data untrustworthiness and privacy leakage in information exchange. This paper focused on the trusted exchange of data in the "the Belt and Road" digital economic cooperation, and discussed how to solve the trust problem in data exchange with the help of blockchain smart contract technology. First, the background of the "the Belt and Road" initiative and the significance of digital economy development were briefly introduced. Subsequently, the challenges faced by trusted data exchange in a network environment lacking trust were analyzed, and a solution based on blockchain smart contracts was introduced. The experimental results showed that when the data block size was 1GB, the data trusted exchange system based on blockchain technology took 10 seconds, and the data transmission rate still reached 891Mbps.