Research on the Application of Blockchain-Based Time Banking System in Intelligent Elderly Care Services

Abstract

With the aging trend of the global population, smart pension has become a new way to solve the pension problem. As an innovative mutual assistance pension model, time banking promotes community mutual assistance by recording and exchanging service time. However, the traditional time bankings face the problems of lack of trust and low transparency. Blockchain technology, with its decentralized, immutable nature, provides new possibilities to solve these problems. This study introduces the concept of time banking and wisdom endowment and its importance, and then review the existing about time banking, wisdom endowment and block chain technology research, elaborated the detail how block chain technology is applied to time banking and wisdom pension services, including its possible advantages (such as security, traceability, etc.) and challenges (such as technical complexity, policies and regulations, etc.). This paper puts forward views and suggestions on the application of blockchain technology in time banking and smart elderly care services, including policy formulation, technology development, business model and other aspects, which also provides a new perspective and practical guidance for the development of time banking and smart elderly care services.