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International Journal of Multimedia Computing, 2020, 1(4); doi: 10.38007/IJMC.2020.010406.

Application of Blockchain in Financial Management

Author(s)

Pingquan Wang

Corresponding Author:
Pingquan Wang
Affiliation(s)

Inner Mongolia University of Finance and Economics, Inner Mongolia, China

Abstract

Blockchain technology is an important achievement of the rapid development of Internet technology. Because of its outstanding performance in data processing and security performance, it is more and more widely used in real life. Financial management is one of the main application fields of blockchain technology. The application of blockchain technology in financial management system can optimize the system in many aspects. "Blockchain + financial management" has become a mainstream trend and plays an irreplaceable role in modern financial management system. In order to further analyze the application of blockchain technology in financial management system, this paper will take this as the main research purpose. This paper is mainly divided into three parts. The first part is the related basic theoretical research. The research and analysis believe that although blockchain technology is not mature enough, it has realized its unique advantages in the financial field. This paper believes that research efforts can be increased to promote the integration of modern technology. The second part is to redesign the financial management system based on blockchain technology, which further strengthens the security performance, and optimizes the existing functional modules with blockchain technology. The redesign of the function module basically meets the development needs of small and medium-sized enterprises. In order to further test the actual performance of the financial system, in the third part of this paper, a number of related experiments are done. From the number of concurrent users and the system response time and other experiments, the experimental data shows that many performances of the modified system meet the current mainstream standards, and show excellent performance. The analysis shows that the system in this paper is an upgrade of the traditional financial management system, and has achieved ideal results.

Keywords

Blockchain Technology, Financial Management, Private Blockchain, Artificial Intelligence

Cite This Paper

Pingquan Wang. Application of Blockchain in Financial Management. International Journal of Multimedia Computing (2020), Vol. 1, Issue 4: 59-73. https://doi.org/10.38007/IJMC.2020.010406.

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