Blockchain is a distributed infrastructure and computing paradigm that is highly integrated with multiple core technology systems such as cryptography, consensus mechanisms, point-to-point communication protocols, and distributed storage. Its essence is a set of decentralized records. accounting system. Blockchain technology relies on its distributed shared ledger, decentralization, transparency, privacy protection, node control, information non-tampering, traceability and other characteristics to truly map various institutions and individuals into the virtual world and connect different entities in the world. people gathered together. The consensus of different equity groups realizes the global real-time flow of value and is being widely used in the traditional financial industry.
The technical characteristics of blockchain can be said to be very suitable for supply chain finance scenarios. We know that credit is the core of finance, and the various problems of supply chain finance mentioned above cannot escape the word "credit". What blockchain can provide is precisely a decentralized trust mechanism, which is the most suitable technology to solve the pain points of supply chain finance. In addition, the distributed sharing model created by blockchain can also attract national and local credit information sharing platforms, commercial banks, core supply chain enterprises, etc. to access blockchain nodes for information opening and sharing, providing upstream and downstream enterprises for small, medium and micro enterprises. Provide credit information sharing services. downstream of the supply chain. Efficient and convenient financing channels; and the "blockchain + supply chain finance" model also provides a more reliable guarantee for the good operation of supply chain finance and the safety and efficiency of assets.
Specifically, blockchain technology will empower supply chain finance in three aspects:
First, it can smooth multi-level credit transmission.
In the supply chain chain, there are often multiple levels of supply and marketing relationships. However, in supply chain finance, the credit of a core enterprise can only cover first-tier suppliers and first-tier distributors with which it has direct trade relations, and cannot be passed on. It is aimed at upstream and downstream small, medium and micro enterprises that are in greater need of financial services. In addition, with the deepening of division of labor and the development of international trade, the number of links in the physical supply chain tends to increase and the chain structure becomes more complex; and throughout the supply chain, the ERP systems and data standards of participating enterprises are not unified. Some enterprise ERP systems cannot access the Internet, and some have poor data quality and obvious "information islands", making it difficult to provide effective credit support to financial institutions.
The construction of a blockchain platform can help informatize the entire supply chain through appropriate structures and guarantee mechanisms, and achieve information transparency, smoothness and security; it can break transaction barriers between all levels by opening up underlying data, thereby promoting the realization of the supply chain The true implementation of "four flows into one" enables credit transfer to enterprises in other places that have no direct transactions with core enterprises. At the same time, the data recorded in the blockchain will not be lost or tampered with, solving the problems of document forgery and information loss in supply chain finance.
Second, it can promote better cooperation and coordination among multiple entities.
Supply chain finance focuses on core enterprises and covers upstream and downstream small, medium and micro enterprises. This requires financial support from commercial banks, factoring companies, etc., participation from logistics, warehousing and other enterprises, as well as corporate information technology services, financial technology services, etc. As the types and number of transaction nodes involved in supply chain finance increase, the financing chain of supply chain finance becomes longer and longer, and the frequency and amount of financing gradually increase. At this time, if it is difficult to establish a global trust mechanism and credit cannot be transferred to each other, it will inevitably make it more and more difficult for financial institutions to process such transactions, and the cost will become higher and higher. In the long run, the efficiency will be very low.
In an environment with multi-agent participation, collaboration is the core of good operation, but the foundation of collaboration is trust and benefit distribution. To this end, blockchain technology, as a distributed ledger with traceable and unmodifiable information, provides a decentralized and equal collaboration platform for all participants, which can greatly reduce the risks and costs of credit collaboration between institutions. Based on the information on the chain, each entity can achieve real-time synchronization of data and real-time reconciliation. In addition, blockchain technology can also rely on tokens to dismantle the credit of core enterprises and transfer it step by step along the supply chain, allowing credit to penetrate into the entire chain, covering suppliers and sellers at all levels, thereby solving the problem of multi-party competition. question. -suject. Trust relationship issues. No matter what level of supplier you are, as long as you obtain the Token, it is equivalent to obtaining the credit endorsement of the core enterprise for financing.
The third is to further reduce systemic risks.
At present, my country has not yet formed an authoritative and sound corporate credit system. The diversity, flexibility and complexity of the supply chain financial business itself have also greatly increased the difficulty of risk control. Especially for financial institutions, whether they are identifying, assessing and preventing credit risks of various customers, or pursuing legal liability afterwards, they are inevitably hindered.
Blockchain technology can better overcome this difficulty, promote the establishment of a fair and credible trading environment, enable multiple institutions to coexist in a scenario of mutual collaboration and mutual supervision, and avoid private transactions under the traditional supply chain financial model. or collusion occurs. Under an open and transparent mechanism, the credit status of an institution will be unanimously recognized by all participants. Continuous transactions also eliminate the need for repeated authenticity checks on various documents, which greatly reduces various risks arising from a lack of trust. Various transaction costs, past bills, assets, transactions, repayments and many other risk points will also be effectively managed. In addition, the "smart contract" mechanism of the blockchain can also urge all parties to the transaction to perform their obligations as agreed, ensuring that transactions proceed smoothly and reliably. The solidification of the fund settlement paths of all parties on the chain can effectively manage and control contract performance risks.
In addition to the above three aspects, blockchain technology can also simplify the operation process of supply chain financial business, reduce labor costs to a certain extent, and reduce the chance of errors.
The essence of financial technology is to use technology to drive financial innovation. However, the results of financial innovation are often uncertain. It will not only bring national prosperity, social stability, and people's happiness, but may also trigger various new risks and new risks. The problem may even become a new financial scam or deception gimmick. Therefore, technology is always neutral, and its effectiveness will depend on the field of technology application, the will of the people, and the perfection of the law.
Blockchain can indeed solve the credit problems of supply chain finance companies and the financing difficulties and high financing costs of small and medium-sized enterprises, allowing financial institutions to serve small and medium-sized enterprise customers more efficiently, conveniently and stably, ensuring that loan funds are in place based on real transactions, while relying on For the payment of core enterprises, enterprises throughout the industry chain can obtain financing, and it is safe financing.
标签： #Blockchain #Finance #Supply Chain Finance #Supply Chain #Credit
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