The relationship between blockchain and government regulation and governance—The distinctions between different countries

Abstract

Blockchain technology, derived from the underlying technology of Bitcoin, is a decentralized infrastructure and distributed computing paradigm that has emerged with the growing use of digital technology in the financial sector[1]. This digital ledgers for distributed storage has brought technological innovation for governments to control in areas such as various financial institutions and technology companies. Blockchain is being developed in major countries around the world, and this technology does bring opportunities for innovation in government governance as well as challenges for government regulation of ICOs. In the era of economic globalization, to develop blockchain technology comprehensively also needs to face policies and regulations in different countries. This paper will explore the relationship and impact between blockchain and government regulation and governance through directed analysis method, combined with application cases, and compare the regulatory system under different countries' policies and national conditions.