Research on Time Bank's Mutual-support Old-aged Care Mode Based on Blockchain Technology

Abstract

With the development trend of aging and low fertility in China, disability and dementia increase year by year in the elderly population. The demand of long-term life care service for the elderly with disability and dementia brings great challenges to the service supply and funds of the traditional endowment insurance model. However, with the application of blockchain technology, the Time Bank's mutual-support old-aged care mode can better solve the above problems. First, the author uses SWOT analysis to comprehensively analyze the advantages, difficulties, opportunities and challenges of the Time Bank's Mutual-support for the Aged mode in China, then the blockchain technology is applied to this mode, finally the corresponding optimization scheme and suggestions are put forward.