The Blockchain Technology Applied in the Development of Real Economy in Jiangsu under Deep Learning

Abstract

This study focuses on the financing difficulties of small and medium enterprises (SMEs) in China to study the application of blockchain technology in developing the real economy. Deep learning neural network is applied to the vulnerability analysis and detection of smart contracts in blockchain technology by analyzing the connotation of blockchain technology and deep learning. A multiparty joint financial service platform based on blockchain technology is established to help SMEs financing institutions reduce transaction costs, thereby helping them reduce loan interest rates. Finally, Jiangsu Province is studied as a pilot unit. The results show that the Recall and F-score of Bidirectional Neural Network for smart contract vulnerability detection are higher than those of the original neural network. The Recall rate and F-score value of the Wide and Deep model are up to 96.2% and 94.7%, which are higher than those of other vulnerability detection schemes. The Timestamp vulnerability has the highest Recall rate, 94.2%, which can rely on a large amount of valid data to improve detection efficiency. The distribution of financing needs of SMEs in Jiangsu Province from 2020 to 2021 shows that the loan number of SMEs is generally not high. Still, financial institutions and enterprises must spend the same transaction cost. After a technology company in Nanjing made a loan through a blockchain financial service platform, its financing cost decreased by 0.5331%. Blockchain technology has played a great role in the financing process of SMEs, reducing intermediate links and credit costs, and promoting the development of SMEs and the real economy.

Spatial spillover effects of skilled migration on innovation in China

“…Therefore, institutions are sensitive to places, that is, although institutions share some common features across regions, they also have a place distinctiveness and are fed by local institutional environment [ 120 ]. Institutions finally improve economic efficiency by reducing transaction costs [ 121 ], promoting entrepreneurship and expanding labour markets [ 122 ]. Consequently, specific local institutional arrangements can enable regions to embark on a sustainable and high-end economic development path [ 118 ].…”

Legal Regulation of the Mechanism of Applying Blockchain Technology in the Modern Conditions of Digitalization of the Economy of Ukraine

“…Singh, S. Khan, and R. Suman [14], who state that blockchain technologies contribute to increasing the level of security, transparency and data privacy and insist on their feasibility in the activities of small, medium and large businesses because they allow improving the production environment and supply chains. However, as noted by W. Shi and Q. Huang [15], the use of blockchain technologies at the level of entrepreneurship should correlate with the trends of their application at the level of the national economy.…”

The Application and Ethics of Artificial Intelligence in Blockchain

“…Third, through content analysis, this study reveals the 10 key areas for the application of AI-enabled blockchain, namely finance (Liu & Yu, 2022;Mazorra et al, 2022;Wang et al, 2021; smart manufacturing (Teng et al, 2022;Yetis et al, 2022), supply chain (Wang, 2021;Zhang et al, 2021), healthcare (Al-Otaibi, 2022Hassija et al, 2022;G. Zhang et al, 2022), transportation (Masuduzzaman et al, 2022;, social media (Vignesh, 2019;Waghmare & Patnaik, 2021), cybersecurity (Darabian et al, 2020;Farooq et al, 2022;, marketing (Bosri et al, 2021;Mann et al, 2022), organizational management (Hamdan et al, 2022;Shi & Huang, 2022), and copyright protection (Kim, 2022). It is also revealed that AI mainly plays six roles in applications: prediction (Kamble et al, 2021;), optimization (Al-Otaibi, 2022Wang et al, 2021), value creation (Hassija et al, 2022;Zhang & Kim, 2022), forgery prevention (Kim, 2022), risk identification (Aljojo, 2022;Shahbazi & Byun, 2022;, and assessment (Hamdan et al, 2022;Masuduzzaman et al, 2022).…”

“…For instance, by conducting neural network analysis and Bayesian network analysis of firm data, the authors can be able to identify the key factors that influence firms to make use of blockchain technology (Faasolo & Sumarliah, 2022;Hamdan et al, 2022). Several AI algorithms (such as DL and NN) have been employed to demonstrate the critical role of blockchain in enterprise financing under this stream of research (Shi & Huang, 2022).…”