Abstract
Blockchain technology can achieve decentralization, multi-party verification, anti-tampering, anonymity, traceability of transactions and distributed ledger applications. Countries around the world continue to seek blockchain business models, technologies and applications and have different visions and policies for the development of blockchain. This study provides a comparative policy framework for the theoretical analysis of blockchain technology between the USA and China. Using the innovative policy tools proposed by Rothwell and Zegveld, these two countries are analyzed from the viewpoint of twelve policy tools. The results show that the USA and China both prefer to use “Environmental-side” policies. The USA has focused more on “Legal and regulatory”, “Public services” and “Procurement”. China has the highest proportion of policies in “Political tools”, followed by “Legal and regulatory”, while “Scientific and technical”, “Education” and “Overseas agent” come in third. Blockchain technology has developed vigorously among industries and its applications have gradually diversified. The results can provide a reference for policy planning for various stakeholders.
Highlights
Report [43] and China Blockchain Technology and Application Development White Paper [57], issued, respectively, by the JEC of the United States and Ministry of Industry and Information Technology (MIIT) of China, which are promulgated by the highest administrative bodies of these two countries and the best publicly available source of data on working models of relevant policy
Based on the policy taxonomy of twelve policy tools from the innovative blockchain policy activities described in white papers from the USA and China as shown in Tables 2 and 3 respectively, this section summarizes the findings of the empirical and comparative
Support key colleges and universities to set up blockchain professional courses (1); Promote the joint efforts of key enterprises and universities for blockchain talent training base (2); Strengthen blockchain professional and technical personnel for high-end talent training (1)
Summary
Policies development of an industry or a specific industry link in a particular country. Zegveld summarized the required factors for industrial innovation as shown in Figwell and Zegveld summarized the required factors for industrial innovation as shown ure 1 [22] They stated that countries and enterprises can use policies to change relein Figure. Wang pointed out that national policies, financial systems and industrial structures will profoundly affect a country’s model of technology learning and innovation [26]. Rothwell and Zegveld explained the impact of industrial innovation, stating that industrial innovation can lead to the growth of a country at all economic levels and the requirements of industry vary in different periods and different environments [22]. Mei and Liu introduced the technical principles of blockchain, discussed its industry applications and existing problems and proposed related policy suggestions for government, industry and academic institutions [5]. EU-level expertise and talent [41]
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