区块链技术在供应链金融应用的典型场景,区块链技术在供应链金融应用中的应用

① How to apply blockchain technology to solve problems in supply chain finance

The essence of finance is value circulation. There are many types of financial products, including banks, securities, insurance, trusts, etc. The concept of traditional finance is a discipline that studies the circulation of monetary funds. The essence of modern finance is the capitalization process of business activities. Blockchain finance, as the name suggests, is the application of blockchain technology in the financial field.
Since 1978, China's financial system has evolved in the direction of marketization, standardization, diversification, and internationalization. Both the scale and complexity of China's financial system have increased rapidly and non-linearly. Various banks, financial institutions, and financial sub-markets are closely related and intertwined. Traditional financial companies are accelerating transformation and innovation in an attempt to occupy the market. At the same time, various new financial institutions are emerging in large numbers. The financial industry is experiencing the financialization of real estate and non-bank institutions. New trends such as banking.
In bank transactions, banks generally conduct transactions through third-party trading institutions, which increases transaction costs and also limits the scale of transactions. In cross-border transactions, there are more transfer processes and lower efficiency. By applying blockchain to transactions in the financial field, you are not subject to these restrictions. At the same time, due to the non-tamperable and traceable nature of the blockchain, transaction records on the blockchain will be preserved, and the flow and whereabouts of funds can be traced, which can reduce transaction costs. Through "blockchain + finance", the blockchain as the underlying technology system can have a series of evidence chains. When conducting fund transactions and transfers, risk control can directly use the records on these chains to better track and control risks.
In the field of asset management, various types of equity, bills, and assets are managed by various trust institutions. Transaction costs are high and transaction vouchers are easily forged. Through the blockchain + finance model, assets are processed on the chain. Due to the decentralized nature of the blockchain, holders can directly initiate transactions without relying on a trust center, effectively reducing the intermediate links in transactions. Blockchain technology has effectively improved the efficiency and quality of financial services and created innovative financial products and service models.
The blockchain BAAB platform independently developed by Yuan Zhongrui Technology empowers the digital economy and digital government, promotes the digital transformation and upgrading of various industries, and is committed to building a trusted infrastructure and application ecosystem in the digital era. At present, the financial industry is developing at a rapid pace. Blockchain has shown great potential in innovation and reform in the financial industry. It is bound to develop into a core technology for the development of the financial industry and create a new ecosystem for the industry.

② What are the service applications that use blockchain technology?

Blockchain technology has a distributed ledger that cannot be tampered with, ensuring the transparency and sharing of information, thus making business activities more efficient. The cost of establishing trust and reaching consensus between peers has dropped significantly. This article provides an in-depth interpretation of four typical business scenarios: supply chain finance, commodity traceability, technology and medical care, and industrial Internet.
1. Blockchain adds supply chain finance. Nowadays, the supply chain of most commodities begins withThe supply of raw materials to finished product manufacturing will involve several upstream and downstream small and medium-sized enterprises; and these enterprises are faced with the pressure of unlocking supply chain working capital. Supply chain finance refers to banks and other financial institutions making systematic financing arrangements for all member companies of the supply chain, thereby forming a win-win situation for core buyer companies and suppliers: the buyer optimizes working capital, and the supplier generates additional operating cash flow, thus Minimize risk throughout the supply chain. There are three pain points in traditional supply chain finance: 1. Information cannot be shared, efficiency is low, and credibility is poor; 2. Bill circulation is inconvenient, contract settlement is slow, and there are often financial risks; 3. Credit cannot be transferred and financing is difficult. The blockchain can realize the following functions: 1. Sharing transaction data, receivables and payables data among core enterprises, multi-level suppliers, and financial institutions while protecting commercial privacy; 2. Transfer of corporate claims and automatic settlement of funds, accelerating corporate recovery. Payment and repayment; 3. The core enterprise's payment commitments flow among multi-level suppliers and financial institutions to convey the core enterprise's credit.
2. Blockchain traceability In the field of commodity traceability, blockchain and Internet of Things technology are combined to trace the entire process of commodity circulation to prevent unscrupulous traders from taking advantage of the information asymmetry in the commodity chain to produce counterfeit and inferior commodities. Shoddy goods. This prevents certain participants from tampering with data or falsely claiming that information is lost when circumstances are detrimental to them, making it difficult to provide evidence and pursue accountability. In addition, blockchain traceability can open up information islands in different links of the supply chain and improve the collaboration efficiency of the supply chain.
3. Blockchain helps medical services Blockchain technology can open up multiple links such as hospital prescription issuance, pharmacist review, drug distribution, drug payment, and process supervision. Through blockchain distributed storage and accurate matching of information on the chain with patients, the one-time dispensing effectiveness of prescriptions is ensured, prescription modification or abuse is prevented, and supervision is facilitated. In the future, patient information, prescription information, drug circulation information, etc. will be encrypted and desensitized through blockchain technology, which can open up more medical application scenarios.
4. Integration of Blockchain and IoT Industrial Internet At the 5th World Internet Conference, the supET Industrial Internet platform, which integrates Internet of Things and blockchain technology, was selected as the world's leading Internet scientific and technological achievement and became the only The award-winning industrial Internet platform.

In addition, blockchain data sharing, blockchain judicial chain, blockchain charity, trusted digital content copyright services, etc. In industries such as government, finance, industry and logistics, healthcare, retail and the Internet, blocks have a wide range of business application scenarios.

③ Application of blockchain in the financial field

1. Application and development of blockchain

Some Internet, Internet start-ups and traditional financial industries Began to try applications in some projects

2. Domestic financeInstitutions test blockchain waters

Various financial institutions are testing the waters one after another, and they are basically in the conceptual experimental stage and have not yet been commercialized on a large scale.

3. Panoramic view of blockchain application in the financial field

4. Ghostwriting

5. Digital bills

Bills are an important financial product in the financial market. They have dual functions of payment and financing. They are of high value and bear bank credit or commercial credit. Once a bill is issued, its face amount, date and other important information cannot be changed. Bills also have circulation attributes and can be accepted, endorsed, discounted, rediscounted, collected and other transactions within a specific life cycle. Once the transaction is completed, the transaction cannot be revoked. There are two characteristics in the circulation of bills: First, the circulation of bills mainly occurs through bank acceptance bills, and the number and circulation of commercial acceptance bills are small; second, each bank independently conducts credit granting and risk control on the bill business, and a single bank's Risk control results may affect other participants in the bill market transaction chain.

The experimental production system of the digital bill trading platform uses SDC (Smart Draft Chain) blockchain technology to protect privacy through cryptographic algorithms such as homomorphic encryption and zero-knowledge proof. The Byzantine Fault Tolerance Protocol (PBFT) performs consensus and uses a see-through mechanism to provide data monitoring.

The experimental production system includes four subsystems: stock exchange, bank, enterprise and monitoring: the stock exchange subsystem is responsible for managing the blockchain and monitoring the digital bill business; the bank subsystem has Digital bills have business functions such as acceptance and receipt, discount signing, rediscounting, and collection and repayment; the enterprise subsystem has business functions such as issuance, acceptance, endorsement, discounting, and prompt payment of digital bills; the monitoring subsystem monitors the status of the blockchain in real time and business occurrences

6.

④ Blockchain + supply chain finance

Supply chain finance is a way for banks to connect core enterprises and upstream and downstream enterprises. Together, it is a financing model that provides flexible financial products and services. Financing services for upstream and downstream supply chain finance usually focus on core enterprises.

Since core enterprises usually have strict requirements on upstream and downstream suppliers and distributors in terms of pricing and account terms, small and medium-sized enterprises in the supply chain often experience financial constraints and turnover difficulties. To solve the problem of capital circulation difficulties for small, medium and micro enterprises, risk control is the biggest problem for Internet supply chain financial platforms. thisThis also leads to the fact that among the four financing types: accounts receivable, prepayment, inventory financing and credit loans, accounts receivable has the largest scale.

The core pain points of traditional supply chain finance:

The accounts payable assets of core enterprises cannot be transferred step by step, and the factoring business cannot run through the entire supply chain. The financial needs of second- and third-tier suppliers cannot be met, leading to product quality problems.

The use of commercial bills is subject to the credibility of the company, and it is difficult to control the arrival time of discounts; the settlement agreement between suppliers lacks a systematic automatic triggering mechanism; supply chain finance involves multiple links In business, there is a lack of credible technical means to guarantee payment.

Financial institutions have high operational and risk costs in terms of trade background verification, reliable pledge, and payment control, and it is difficult for enterprises or platforms in the trade chain to self-certify. Financial institutions carry out supply chain finance. The costs, risks and benefits of business are more difficult to balance.

According to iResearch's latest "2018 China Supply Chain Finance Industry Research Report": In my country, the accounts receivable of industrial enterprises have reached a certain size, laying the foundation for carrying out corresponding supply chain financing. foundation. However, the scale of supply chain financing is far smaller than that of basic accounts receivable financing.

According to surveys, the loan demand index of small and medium-sized enterprises continues to be greater than 50%, indicating that corporate financing needs continue to exist.

Blockchain technology is a distributed ledger technology with technical characteristics such as decentralization, non-tampering, high security and smart contracts. It ensures the integrity and reliability of information and can effectively solve the transaction process. issues of trust and security.

1) Core enterprises confirm the rights to assets on the blockchain, including verification and confirmation of the authenticity and validity of debt certificates. The non-tamperable nature of the blockchain ensures that the creditor's rights certificate itself cannot be forged, proving the true validity of the circulation of the creditor's rights certificate, and can be split and transferred step by step to achieve credit penetration of core enterprises, thus solving the problem of financing difficulties for supplier companies on the chain. .

2) All data on the chain can be traced back to the source, saving financial institutions a lot of offline due diligence and manpower and material costs to verify the authenticity of transaction information, and supplementing the risk control systems of banks or Internet financial institutions. Relying on the credit transfer of core enterprises, suppliers can enjoy faster and more efficient financing services, effectively solving the problem of difficult and expensive financing.

3) In this trustful ecosystem, the credit of core enterprises can be converted into online digital warrants, preventing performance risks through smart contracts, allowing credit to be effectively transmitted along the supply chain, reducing cooperation costs, and improving Performance efficiency. More importantly, when digital warrants can be anchored on the chain, smart contracts can also be used to split and transfer funds from upstream and downstream enterprises, greatly increasing the speed of funds and realizing automatic liquidation.

At present, many domestic companies have started using blockchain technology to lay out the supply chain financial market. We selected the following four competing products for analysis and research, and analyzed the solutions of blockchain + supply chain finance.

Product introduction:

Micro Enterprise Chain uses accounts receivable from core enterprises as the underlying assets, and uses Tencent blockchain technology to realize the transfer and split of debt certificates.

Among them, when the original assets are registered on the chain, the supplier's accounts receivable are reviewed and verified to confirm the authenticity and validity of the trade relationship to ensure the authenticity and credibility of the assets on the chain. Debt certificates can be split and transferred layer by layer based on the supply chain. Each layer of transfer can completely trace the original assets registered on the chain to achieve credit penetration of core enterprises to multi-level suppliers.

Business process:

Risk control:

Product experience:

There is no specific operation interface to experience the Micro Enterprise Chain. The supplier registration portal is a mini program. The official website of Micro Enterprise Chain/Lianyirong only has a "Contact Us" entrance. It is speculated that the platform is not open to the outside world, and you need to be a target cooperation customer before you can cooperate.

The current operating model of Micro Enterprise Chain is mainly to cooperate with Lianyi Fusion to issue ABS/ABN, and suppliers issue assets and apply for financing on the platform. This model greatly reduces the financing costs of the entire industry chain.

Product introduction:

Yunxin is the corporate credit circulated on the China Enterprise Cloud Chain platform. It is an innovative financial information service that is transformed by large enterprise groups through the China Enterprise Cloud Chain platform into high-quality corporate credit that can be transferred, financed, and flexibly configured.

Business process:

Risk control:

Product experience:

Please refer to the public account tweet "Cloud Chain Finance-User Operations" Manual》

The publicity of China Enterprise Cloud Chain mainly focuses on the carrier of Yunxin. Yunxin = cash (split at will) + commercial invoice (absolutely free) + bank invoice (high reliability) + easy traceability The advantages of "Yunxin" as a new type of electronic settlement tool are well extracted. At the same time, the concept of blockchain is borrowed to prove the non-tamperability and traceability of data.

Judging from the dynamics of China Enterprise Cloud Chain’s WeChat public account, Yunxin is currently being promoted on a large scale across the country. According to Liu Jiang, chairman of China Enterprise Cloud Chain, there is currently a local promotion team of 200 people, and it will be deployed to 500 people next year. There are roughly 5,000 core companies in the country that are worthy of supply chain finance. If one person contacts ten companies and 500 people capture these 5,000 core companies, it will basically be done.It can cover the entire supply chain finance in China. Click to view the details.

Product introduction:

After China Construction Group suppliers complete the bidding, signing, order and other procurement processes on the China Construction E-commerce "Yunzhu.com" platform, they can synchronize their supply and sales data Save the certificate to the collaboration platform.

When a supplier needs to finance accounts receivable, it submits a financing application to the bank on the collaboration platform, and the smart contract automatically links the certificate information to provide financing banks with complete and reliable loan review information. After the financing review is passed, the bank will reply to the supplier on the loan information chain. After the financing expires, the supplier completes the financing repayment process through the collaboration platform.

Business process:

Risk control:

Product experience:

Please refer to the article "Working together to "build" the blockchain architecture Industry New Model"

This product is different from the above-mentioned products. The core enterprises it cooperates with currently only target bureau companies and subsidiaries directly under China Construction Group, and its financing services only serve direct trade transactions with core enterprises. As a first-tier supplier, the business model uses on-chain data as evidence for financing materials. At the same time, the blockchain ensures that data is non-repudiable and difficult to tamper with, reducing financing risks.

Product introduction:

Apply blockchain technology to innovatively develop an accounts receivable chain platform to transform corporate accounts receivable into electronic payment settlement and financing tools.

Business process:

Risk control:

Product experience:

Zheshang Bank is based on Hyperchain, the underlying blockchain platform of Qulian Technology The developed “receivables chain platform” was launched. The platform is an innovative financial technology product that uses blockchain technology to convert corporate accounts receivable into online payment and financing tools to help companies deleverage and reduce costs. It is specially used to handle the issuance, acceptance, confirmation, payment, transfer, pledge and redemption of corporate accounts receivable.

Here, we use the business canvas to comprehensively analyze the commercialization model of competing products.

The business models and business processes of blockchain + supply chain finance products are actually very similar and easy to imitate.

In addition to the ones mentioned in this article, there are also Bubi Blockchain, Qulian Businessman/Ximei Chain, etc., but to become bigger and stronger, you need to fight for resources. This business model is destined to be led by the core enterprises with the highest bargaining power. So how many core enterprises can you introduce?Industry resources, whether the size of this core enterprise is large enough depends on the business capabilities of your platform.

The main purpose of doing this competitive product analysis is to study the business model and commercial operations. In fact, the water is still very deep. It is not just a flow chart + capital flow or something to copy others. business model.

⑤ Application of blockchain technology in the financial field

There are many applications of blockchain technology in the financial field. Here are a few examples:
Launched by the People’s Bank of China Trade finance blockchain platform: Extensively connects information from taxation, customs, foreign exchange and other departments to effectively increase the credit of small and medium-sized enterprises in financing.
Guangdong has released the country’s first local financial off-site supervision blockchain system: effectively solving the pain points of information asymmetry and unreliability between financial institutions and regulators in traditional supervision methods.
State Grid’s supply chain financial data sharing platform based on data side chain: provides conditional and trustworthy sharing services of supply chain financial data under privacy protection, helping small and medium-sized suppliers in the chain to revitalize accounts receivable and reduce financing costs. Increase the financial income of financial institutions.
In addition to these, there are other applications. Crypto Finance mimacaijing focuses on blockchain information.

⑥ How to use blockchain in supply chain finance

In traditional supply chain finance, difficult financing, high financing costs, and cumbersome financing processes have always restricted small, medium and micro enterprises from growing bigger. One of the bottlenecks to becoming stronger. The bank relies on the core enterprise's ability to control goods and regulate sales. For risk control reasons, the bank is only willing to provide factoring business to upstream suppliers (limited to first-tier suppliers) that have direct accounts payable obligations of the core enterprise, or Provide advance payment or inventory financing to its downstream dealers (first-tier suppliers). This has resulted in the needs of second- and third-tier suppliers/dealers with huge financing needs not being met, and the business volume of supply chain finance being restricted. The lack of timely financing for small and medium-sized enterprises can easily lead to product quality problems. , will harm the entire supply chain system.

To solve these problems, the decentralized, non-tamperable, and distributed ledger characteristics of blockchain technology can be used to create a blockchain supply chain financial platform.

1. The core enterprise issues a receivable voucher to the distributor. After the distributor signs the receipt, it indicates that a purchase and sales contract has been signed, and the core enterprise delivers the goods.

2. Distributors need financial loans due to financial constraints.

3. The financial institution will transfer the loan amount to the core enterprise after review and approval.

4. The distributor repays the loan and interest after selling the goods

⑦ How to use modern information technology such as blockchain to improve the digitalization level of supply chain finance

In recent years In recent years, supply chain finance has been encouraged by many policies at the national level and has become an important way for my country to serve the real economy and support small and medium-sized enterprises. On July 6, 2019, the China Banking and Insurance Regulatory Commission issued the "Guidance of the General Office of the China Banking and Insurance Regulatory Commission on Promoting Supply Chain Finance to Serve the Real Economy"Opinions" requires banking and insurance institutions to rely on core supply chain enterprises to provide a package of comprehensive financial services such as financing, settlement, and cash management for upstream and downstream supply chain enterprises. In September 2020, eight departments including the central bank, the Ministry of Commerce, and the Ministry of Industry and Information Technology issued the "Opinions on Regulating the Development of Supply Chain Finance to Support the Stable Cycle and Optimization and Upgrading of the Supply Chain Industrial Chain", requiring financial institutions and entities to strengthen information sharing and collaboration to improve The online and digital level of supply chain financing has improved the efficiency of accounts receivable financing for small, medium and micro enterprises, and has become a programmatic document for the development of supply chain finance in my country. The 2021 Government Work Report separately mentions "innovative supply chain financial service models" for the first time, which means that the development of supply chain finance has become a national strategy. It can be seen from this that the state emphasizes on the service model to play the credit transmission role of core enterprises based on the authenticity of trade; on the application of technology, it encourages the role of blockchain, big data, Internet of Things and other technologies , monitor the flow of information such as property rights and claims in the industrial chain to solve the problem of business credit risk management and control.
According to data from the National Bureau of Statistics, the accounts receivable of my country's industrial enterprises above designated size exceeded 16 trillion yuan in 2020, an increase of 15.1% from the end of 2019; the inventory of finished products reached 4.6 trillion yuan, an increase of 7.5%. The balance of accounts receivable continues to increase nationwide, and the proportion of liquid assets also continues to rise. Problems such as slowdown in corporate working capital turnover, high financing pressure, and high liquidity risks in accounts receivable cannot be effectively alleviated, which to a large extent affects The healthy development of small and medium-sized enterprises and the good operation of the economy. It is urgent to solve the working capital pressure of real enterprises, especially the financing problems of small, medium and micro enterprises. "Ask the easy questions and solve the difficult ones." To solve the financing problems of small, medium and micro enterprises, we must first solve the problem of mutual trust between banks and enterprises in the industrial chain, and truly realize that the information on financial services and business operations is well-founded, verifiable and consistent. Returning to the essence of blockchain is actually to use technologies such as data encryption, multi-party verification, and blockchain storage to solve problems such as difficulty in verifying the authenticity of assets and trade information between buyers and sellers in the industry chain, and high cost of credit assessment; through blockchain technology To optimize the production relations of the inclusive financial ecosystem and accelerate the improvement of supply chain financial innovation service models and service capabilities.
According to the "Blockchain Financial Application Development White Paper (2020)" released by the Industrial and Commercial Bank of China Financial Technology Research Institute, supply chain finance regards the core enterprises in the supply chain and its related upstream and downstream enterprises as a whole. Relying on core enterprises and taking real trade as the premise, we use self-reimbursement trade financing to provide comprehensive financial products and services to upstream and downstream enterprises in the supply chain. By observing the current development of supply chain finance business, we found that its large-scale substantial advancement still faces many difficulties.
Multiple levels of credit transmission are blocked. Restricted by corporate reputation and traditional financial risk control requirements, the self-built supply chain financial platforms of most financial institutions and core enterprises mainly focus on the first-level upstream and downstream of the core enterprise, but can truly cater to the second-level, third-level, and N-level upstreams. downstreamThere are very few enterprises that can carry out financing business with the real trade links of core enterprises as credit endorsement. Under existing business operations, we often face situations where core enterprises or key enterprises are not proactive and unwilling to cooperate in confirming rights. The reason is that there is often no direct trade relationship between core enterprises and N-level enterprises, and core enterprises in a strong position are not willing to cooperate; there are also problems such as high frequency of rights confirmation, cumbersome offline operations, and concerns about the leakage of commercial secrets. Therefore, small, medium and micro enterprises in the industrial chain cannot solve their own financing problems with the help of core enterprise credit and trade flow information, and the credit "watering" of core enterprises only reaches first-level upstream and downstream enterprises. Blockchain has the characteristics of distributed ledger, transparent traceability, automatic execution of smart contracts and other characteristics, which has become the exploration direction of technology application to solve credit disassembly and realize multi-level credit transmission.
The authenticity of the trade is difficult to verify. Supply chain finance relies on real trade transactions to carry out financing. However, in practice, due to the lack of effective verification methods and multi-dimensional risk control data sources, it is difficult for financial institutions to know the authenticity of transaction information, and manual verification Costs remain high, resulting in information asymmetry and trust gaps between banks and enterprises. In recent years, there have been frequent news incidents of loan fraud involving companies colluding and colluding with false trade. Therefore, solving the information asymmetry between banks and enterprises has become a necessary condition for the smooth development of supply chain finance. Blockchain's multi-party maintenance of the same ledger, built-in timestamp, and non-tampering characteristics have begun to be used by industry insiders to build multi-dimensional trusted data sources to ensure the verifiability of transaction information.
Information from multiple parties in the industry chain is separated from each other and cannot be shared. The links, enterprise types, participants, etc. involved in supply chain finance are relatively complex and diverse. The information and data islands of each supply chain participant have not been effectively connected. Faced with problems such as difficulty in matching capital flow, information flow, business flow, and cargo flow, it has not been able to form a The synergistic effect of the entire industrial chain has hindered the development of supply chain finance, making it difficult and difficult to cure the stubborn problem of financing difficulties and expensive financing for small and medium-sized enterprises.
In response to the above-mentioned outstanding problems in the development of supply chain finance, my country has proposed an "innovative supply chain financial service model" at the central government level for the first time. As an emerging financial service model, industry insiders generally believe that in order to innovate the supply chain financial model, it is necessary to accelerate the digital transformation of supply chain finance, conduct business online and digitally, and use blockchain, big data and other technologies to solve trade confirmation issues. , transaction authenticity and other issues, helping financial institutions control transaction risks and build a digital trust mechanism. The key is to make the information data in supply chain financial activities credible, transparent, mutually verified and traceable.
Blockchain technology has been identified as an important breakthrough for independent innovation of national core technologies. The Ministry of Industry and Information Technology positioned it as a new infrastructure in 2019 and has begun to serve the real economy on a large scale, reducing costs and increasing efficiency for the real economy. According to statistics from the CCID Blockchain Research Institute, blockchain accounted for 29% of application implementation projects in the financial field in 2019, the highest proportion among application implementation projects in the same period, covering electronic vouchers, paymentBusiness scenarios such as liquidation, insurance claims, credit reporting, loan financing, etc. According to the "China Blockchain Development Report (2020)", it is expected that the market size of my country's blockchain core products and solutions, as well as related derivative industries, will reach 10 billion yuan by 2022. From the perspective of the technology itself, according to the "White Paper on Supply Chain Finance Based on Blockchain Technology (2020)", blockchain is a kind of data block that is connected sequentially in chronological order and combined into a chain data structure that distributes, Distributed ledger technology that is consistently stored among all participants and uses cryptography to ensure that data cannot be tampered with or forged. Blockchain is the integration of a series of technologies such as point-to-point network, data encryption, distributed data storage, and consensus mechanisms. It has the characteristics of multi-center, non-tampering, traceability, and high security. As a new cutting-edge technology, blockchain is naturally suitable for supply chain finance business scenarios involving multiple parties, and has great potential to promote supply chain finance to deeper industrial applications.
Faced with the difficulties faced by supply chain finance business development, the blockchain-based supply chain finance platform has changed the business development model in the following aspects.
Confirm the rights of basic claims. Since the logic of supply chain financial financing services is to transfer the debt claims formed based on the supply chain as a financial asset to achieve financing, it is necessary to confirm the rights of the basic claims, that is, to confirm that the basic claims have been truly generated and confirmed. Unfavorable factors that may affect the effective exercise of the underlying claims have been eliminated. Faced with the practical problem that core enterprises are unwilling to cooperate in confirming rights, the supply chain financial platform based on blockchain transforms claims into blockchain digital certificates that can be freely split, transferred for payment, and financing, which can realize accounts receivable. The circulation of payment transactions among multi-level enterprises. While ensuring the authenticity of the trade, this model is equivalent to pre-confirmation of rights. Financial institutions can directly lend money based on the blockchain digital certificate in one step online, changing the traditional offline lending model.
Achieve multi-level transmission of credit. The core of supply chain finance is credit. Only multi-level transmission of credit can effectively provide financing services to small, medium and micro enterprises based on the credit of core enterprises. Different from the traditional supply chain finance method, the credit of core enterprises can only be transmitted to first-level enterprises. Financial technologies such as blockchain are used to generate transferable digital certificates on the platform, and the underlying assets of debts and claims generated by trade are transferred through the blockchain. Generate unique digital credentials. Its block chain structure with timestamps can ensure that digital certificates cannot be tampered with, are extremely verifiable and traceable, can be transferred and split, and turn corporate credit into a tool. After multiple splits and transfers, digital certificates can clearly retain the core corporate credit, allowing the core corporate credit to be passed along trusted trade links to the end of the industrial chain. For example, after a first-tier supplier signs for a voucher issued by a core enterprise, it can transfer it to the upper-tier supplier as a means of payment based on the real trade background, which solves the problem that the core enterprise's credit cannot be transferred to multi-tier suppliers.
Ensure the authenticity of trade. Through supply chain related trade relationsRelated basic materials - contracts, invoices, documents, funds and other information are completely recorded and uploaded to the chain, and all kinds of data can be shared in a timely manner. Utilizing blockchain's real-name authentication, cross-verification identity access, authentication, etc., can ensure the credibility of data sources; technical features such as multi-level encryption and signature verification can ensure data security. Combined with big data analysis technology, the authenticity of trade data can be verified through cross-validation, which can effectively reduce the verification and risk control costs of offline authenticity, build a new trust mechanism and efficient collaboration mechanism, and effectively support supply chain finance. The service covers multi-level enterprises in the supply chain, especially small, medium and micro enterprises at the end.
With the popularization of technology, the exploration of supply chain financial innovation models based on blockchain is in the ascendant. For example: Zheshang Bank cooperated with Qulian Technology in 2017 to launch the accounts receivable chain platform. The platform adopts the "blockchain + supply chain finance" model and can handle the issuance, acceptance, confirmation and payment of accounts receivable. , transfer, pledge, redemption and other businesses, converting accounts receivable into electronic payment settlement and financing tools, revitalizing the originally illiquid accounts receivable assets; Tianjin Free Trade Pilot Zone launched a blockchain-based receivable Xin Warehouse is the country's first supply chain financial innovation model that integrates warehouse receipt pledge, disposal, trading, and risk control and price locking.
As one of the important starting points for financial digital transformation, blockchain has entered a comprehensive construction stage. The original intention of building blockchain is to empower the development of industry and finance. By leveraging the role of blockchain in building digital trust, we can build new organizational relationships, create an innovative service paradigm for industrial chain finance, and actively promote the digital, intelligent, and scenario-based development of supply chain finance. , to help create an open, shared, green, efficient and credible supply chain financial ecosystem, truly solve the practical pain points of many parties in supply chain financial services, and enhance the stability and competitiveness of the industrial chain supply chain.
The author is the CEO of Qulian Technology

⑧ What are the applications of blockchain technology in the supply chain

The application of blockchain technology in the supply chain, first of all It provides credit guarantee, and the blockchain records the circulation information of commodities, etc., which can prove the true reliability of commodities and their circulation, so as to make a comprehensive evaluation of the utility of enterprises on the chain, etc., and become a corporate bank loan credit , an effective guarantee for financing credit and transaction credit.

First of all, the blockchain can time-stamp all transaction data in the supply chain and cannot be tampered with at will. Even if the transaction data of a certain node can be tampered with, it cannot be tampered with. Only one hand covers the sky, so blockchain solves the bank's concerns about corporate information being tampered with. For some small businesses, as long as they have good credit, the possibility of borrowing from banks will be greatly increased.

Secondly, through effective integration, the information between upstream and downstream enterprises recorded in the blockchain can not only provide support for enterprises in production, sales and other links, but also provide downstream enterprises with the ability to analyze customer preferences. , so that targeted services can be developed.