SWOT Analysis of Blockchain Funding, Platform Finance, Financial Big Data and Financial Engineering Under the Background of Financial Innovation and Technology

Abstract

This paper highlighted the Strengths, Weaknesses, Opportunities, and Threats to blockchain technology in financial services. Blockchain is still an evolving and therefore immature technology; it is hard to predict how successful it would be outside its only proven use domain of cryptocurrencies. History teaches us that radically new technologies take many decades to realize their full potential. Thus it is perfectly possible that blockchain would prove revolutionary in the years to come despite its patchy success so far. What is certain is that businesses should be looking at this technology and understanding it because its underlying ideas are powerful and likely to be influential. Policymakers might support the creation of teaching materials on blockchain technology. Users might be able to avoid frequent blockchain frauds, and businesses might find additional capacity to deploy the technology. Policymakers may use blockchain technology to accomplish their own unique goals. This could help organisations in public, and private sectors decide whether the technology can help solve particular issues. Organisations attempting to integrate blockchain technology with their current systems may find this to be more accessible as a result. Based on blockchain technology, policy- makers could explain current laws and regulations or create new ones. This paper presents a comprehensive overview on blockchain technology in the area of Blockchain funding, Platform finance, financial big data, financial engineering financial technology, Financial innovation, Digital economy. blockchain; FinTech; payment services; deposits and lending; financial services; Bitcoin; SWOT Analysis, Ethereum; Hyperledger, smart contract; digital wallet, Quorum, RippleNet and Stellar Network, Algorand Blockchain and Pundi-X. Blockchain technology is a mode of decentralization, which is the next key disrupting technology and worldwide computing paradigm following the mainframe, perso