The problem of high agency costs in traditional corporate governance has always been difficult to address due to a fundamental root cause, i.e. information asymmetry. Traditional solutions generally include mandatory provisions for protecting shareholders’ and investors’ right to know, or incentives to align the interests of managers and owners. But the effectiveness of both approaches has been unsatisfactory. After integration of blockchain into corporate governance, the problem of information asymmetry can be solved once and for all, and corporate governance can be carried out in a more scientific and democratic way. However, as a new technology, blockchain still rouses some doubts and challenges in terms of information protection. Therefore, on the basis of regulatory efforts, blockchain should be protected by the rule of law, so as to achieve the best governance effect, enable beneficial interaction between technological innovation and legal protection, and promote the modernization and legalization progress of the corporate governance system.