The influencing factors of carbon trading companies applying blockchain technology: evidence from eight carbon trading pilots in China

In recent years, blockchain technology has generally provided a wide range of application values in various fields. However, interdisciplinary research on blockchain technology and carbon trading companies is currently rare. Based on this, this paper takes the integration of blockchain technology and carbon trading companies as the background and draws on relevant theories such as blockchain technology, carbon trading mechanisms, and major technological changes to study the influencing factors of carbon trading companies applying blockchain technology by combining theoretical deduction with an empirical test. The results show that (1) the number of companies in China’s eight carbon trading pilots shows an obvious regional imbalance. Among them, more companies participated in the carbon trading pilot in Shenzhen and Beijing while less in Tianjin and Hubei. Meanwhile, the participating companies in the eight carbon trading pilots are mainly concentrated in eight industries, including electric power, petrochemical, chemical, building materials, iron and steel, nonferrous metals, papermaking, and domestic civil aviation. (2) The willingness of carbon pilot companies to use blockchain technology is stronger; the time for carbon pilot companies to learn and master blockchain technology is shorter, otherwise, the longer. Therefore, priority can be given to applying blockchain technology in carbon pilot industries with strong use willingness. (3) If more companies participate in carbon trading, the easier it is for companies to learn to use blockchain technology in the early stage. Therefore, if the pilot for the application of blockchain technology is carried out in carbon trading companies, the two carbon pilots in Shenzhen and Beijing can be given priority. This paper further enriches the relatively scarce existing interdisciplinary literature on blockchain technology and carbon trading in theory and also provides guidance for the effective application of blockchain technology by carbon trading companies in reality.