Reflection on the blockchain application in Chinese public health financial institutions governance

Peking University HSBC Business School, University Town, Nanshan District, Shenzhen 518055, P.R. China
Qianhai Financial Holdings, Qianhai Shenzhen-Hong Kong Fund Town, Nanshan District, Shenzhen 518066, P.R. China

^* Corresponding author: kailiang.ma@hotmail.com; makl@qfhchina.com; 2306390619@pku.edu.cn

Abstract

This paper identifies three aspects of challenges in blockchain practices through textual analysis and case studies in the governance of Chinese public health financial institutions. First, given the conflict of interest in corporate governance, under the background of shareholder activism, the attitude of controlling shareholders towards blockchain technology can become a crucial force in technology commercialization. Second, the massive amount of data derived from blockchain technology can lead to privacy protection problems in the financial development of the public health industry. Third, the lack of business customs can become a commercial factor hindering the application of blockchain technology. Therefore, reflecting on blockchain technology in corporate governance can facilitate the public health industry to adapt to the new opportunities brought by technological changes and cope with risks in advance. These findings are innovative and could provide insights into the future cross-border governance of blockchain technology.