Supply chain finance is a financing model in which banks link core enterprises with upstream and downstream enterprises to provide flexible use of financial products and services.According to statistics from McKinsey Consulting, there are currently 2 trillion dollars of unused funds in credit accounts worldwide. If this receivable, relatively safe and receivable, is effectively activated through supply chain finance, the world can obtain an additional $20 billion in potential income. According to statistics, the supply chain financial market in 2019 increased by 5.3% year-on-year to 2.1 trillion yuan, and is expected to further increase to 2.5 trillion yuan in 2023.First. Analysis of problems in traditional supply chain financeInformation is opaque, SME financing is difficultDue to information asymmetry, it is difficult for core companies to effectively integrate various operating data, historical credit status, and financial information of upstream and downstream companies in the supply chain. The credit transfer effect of core companies is poor, and it is difficult for commercial banks to have precise capital risks. control. If the credit qualification is not up to standard, it will often face the difficulty of financing.Financial institutions have high operational risks and high costsFinancial institutions have high operational and risk costs in terms of trade background verification, reliable pledges, and payment control. However, companies or platforms in the trade chain are difficult to prove themselves. The costs, risks, and benefits of financial institutions conducting supply chain financial services It is more difficult to balance.Insufficient traditional supervisionInsufficient traditional supervision methods: With the application of fintech technology, financial innovation has accelerated the continuous updating and iteration of supply chain financial products, which has improved the efficiency of the industry and brought more risks. These risks have been difficult to obtain evidence and investigation using traditional supervision methods. Many companies will forge bills or water to obtain illegal benefits, which poses great challenges to the development of the industry.Second, the blockchain accelerates the establishment of a supply chain platformBlockchain technology is highly compatible with supply chain finance. The chain structure of the blockchain is a kind of time series data that can store information. It realizes the visualization of all transaction information and ensures the transparency of the information of all parties involved. This is similar to the form of bill (bill) circulation in supply chain finance. And digital bills based on blockchain technology have the basic attributes and characteristics of electronic bills, and are of great significance for improving the security and traceability of bill market transactions.Reshaping the corporate trust mechanismThe distributed data storage mechanism allows the participants in the supply chain finance to jointly record transaction information without tampering. These data can be used as an effective basis for the credit rating of financial institutions, thus solving the problem of financing difficulties and expensive financing for SMEs.Facilitate omnichannel information circulationThe blockchain has built an open and transparent collaboration network, and the interconnection of information between various enterprises in the industrial chain has been greatly improved, which has significantly improved the efficiency of information flow, capital flow and logistics in the industrial chain. At the same time, due to the openness and transparency of the ledger, the game relationship between enterprises has been transformed into a cooperative relationship, thereby forming a circular chain around consumers. Supply chain management and collaboration are easier than ever.Improve regulatory efficiencyDistributed bookkeeping technology can establish a decentralized asset trading system, replacing traditional centralized registration and review procedures. Through the judicial system to ensure the connection between electronic tokens and underlying assets, various asset exchanges and over-the-counter markets can use the token trading system to fit supply and demand transactions, allowing the market to independently manage the process of transactions and price discovery. It is conducive to simplifying the regulatory process. At the same time, the non-tamperable and traceable technical characteristics of blockchain technology significantly increase the cost of illegality, thereby improving the efficiency of regulation.As the government's investment in network and communication facilities increases, the development of the industry will accelerate. In the future, the blockchain-based supply chain financial platform will gradually become a trusted information transmission platform with wider coverage. Through the integration of artificial intelligence, big data, cloud computing and other technologies, the information and services provided by the platform will be more accurate and efficient, boosting Industry innovation and development.
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