New blockchain digital technology and information asymmetry

Background and

The asymmetry of information in the capital market has caused the transaction process to become unclear and will have adverse consequences. Blockchain technology was first described in general terms by Haber and Stornetta in 1991. The purpose of this research is to investigate the new digital blockchain technology and information asymmetry.

The current research is a qualitative research that includes the method of collecting library information. In terms of the type of research, this research is considered a prescriptive research.

Information asymmetry is a phenomenon that overshadows the implementation of contracts, buying and selling shares, etc. This phenomenon occurs in cases of lack of information transparency in such a way that one of the parties to the contract has access to information that is not available to the other. Although some principles governing contracts, buying and selling shares, etc., such as the principle of maximum good faith, require the parties to the contract to provide accurate information and create information transparency, but in cases of bad faith in one of the parties, the implementation The correctness of contracts, buying and selling of shares, etc. concluded in this field faces a challenge. Among the results of this phenomenon is the negative choice of the buyer and the creation of moral hazards, which are considered to have adverse effects on the economic development of a country.

Of course, there are solutions to solve these challenges, the best of which is to create information transparency through the implementation of modern electronic tools in the standard financial accounting system of Iran. Blockchain is a platform that, with its unique characteristics and new tools, provides the possibility of creating maximum transparency and causes the elimination of this phenomenon.