Research on the Evolutionary Game of Urban Regeneration Multiple Participants Supported by Blockchain

Urban regeneration is an important vehicle for promoting the transformation of urban construction from scale expansion to connotative development. In this process, there are complex spatial interests among local governments, market players, and the public (mainly referring to the original property owner). Therefore, this research firstly analyzes the emergence mechanism of spatial interest conflicts and summarizes them into three aspects: the centrality of decision-makers, capital logic utilitarianism, and asymmetric information communication. Secondly, this research analyzes the behavioral strategy choices of stakeholders to lay the theoretical foundation for the evolutionary game of three participants. Then, this study uses replicated dynamic equations and stable evolution strategies in the evolutionary game. The results show that increasing the punishment, reducing the cost of government regulation, and increasing the social welfare is the key to the game balance. Finally, based on blockchain technology, we propose policy recommendations for urban regeneration in China to realize the reconstruction of spatial interest patterns from physical renewal to quality improvement among multiple subjects.