Research on Improving Strategies of Financial Fraud in Listed Companies Based on Blockchain Technology

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Research on Improving Strategies of Financial Fraud in Listed Companies Based on Blockchain Technology

ABSTRACT : In recent years, a series of fraud scandals that have shocked the world have dealt a heavy blow
to investor confidence, shaken the credit foundation of the capital market, and threatened the industry and the
country’s macroeconomic decision-making. Since my country established the socialist economic system with
Chinese characteristics, the market economy has developed by leaps and bounds. In order to protect its own
interests and ensure its market position, the company partly rushed to go public and partly in order to avoid
delisting. It used methods such as whitewashing financial statements to create false financial data, which
seriously affected the normal order of the market economy. Blockchain technology has developed rapidly in
other industries based on its decentralization, independence, and confidentiality. However, most of the
accounting industry currently stays at the macro level of the technology’s disruptive impact on the entire
accounting field. This article analyzes my country’s listing The current situation of the company’s financial
fraud and its causes, and at the same time, the unique characteristics of blockchain technology are studied, and
it is hoped that the application of blockchain technology will reduce the possibility of financial fraud in listed
companies and protect the interests of investors.

KEYWORDS – Listed company Financial fraud Blockchain

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