Blockchain finance is the application of blockchain technology in the financial field. Blockchain is an underlying technology based on bitcoin, and its essence is a decentralized trust mechanism. Through the sharing of distributed nodes, we can maintain the sustainable growth of the database and realize the security and accuracy of information.
Blockchain technology can realize the credit penetration of supply chain financial system, and solve the problems of financing difficulty and high cost of secondary suppliers and distributors. Blockchain plays two roles: one is the process of confirming the power of the core enterprise, including the verification and confirmation of the authenticity and validity of the whole bill; the other is to prove the authenticity and effectiveness of the circulation of credit voucher, ensure that the credit voucher itself can not be forged, realize credit opening, and solve the credit financing dilemma of secondary suppliers.
In this trust ecosystem, the credit of core enterprises (bills, credit lines or accounts payable confirmation rights) can be converted into digital warrants. Through smart contract, performance risk can be prevented, credit can be effectively transmitted along the supply chain, cooperation cost can be reduced and performance efficiency can be improved. More importantly, when digital warrants can be anchored on the chain, smart contracts can also realize the separation and circulation of funds between upstream and downstream enterprises, greatly improve the speed of capital turnover, and solve the financing difficulties and financing costs of SMEs.
Advantages of blockchain application:
1. Reduce the financing cost of the whole industry. Through the multi-level supplier financing system constructed by blockchain, it can promote the information sharing of the whole chain, realize the financial visualization of the supply chain, reduce the financing cost of small and medium-sized enterprises, improve the efficiency of capital circulation, indirectly reduce the overall production cost, and make the products of enterprises more competitive.
2. Blockchain is the “excavator” of high-quality assets. The blockchain solves the problems of information asymmetry among enterprises and financing difficulties of small and medium-sized enterprises, enables financial institutions to serve SMEs customers more efficiently, conveniently and stably, ensures that loan funds are based on real transactions, and relies on the payment of core enterprises, so that enterprises in the entire industry chain can finance, and it is safe to finance. Therefore, blockchain is the “excavator” of high-quality assets.
3. Promote the healthy and stable development of supply chain finance through supervision. With the help of blockchain distributed ledger technology, regulatory authorities can set up blockchain nodes in the whole business process to check at any time without relying on traditional flight inspection. Because the blockchain has the characteristics of tampering and traceability, it is easier for the regulatory authorities to implement penetration supervision. More financial institutions can safely serve the real economy. The blockchain technology has been strengthened. The financial risk of the supply chain has been monitored to improve the level of risk management in and after the event of financial institutions to ensure the flow of funds to the real economy. At the same time, the data sharing mode of blockchain can prevent repeated pledge and empty bill pledge, and promote the healthy and stable development of supply chain finance.
4. industrial Internet plus corporate finance “attract capital into the real economy. In the future, with the development of information technology and Internet of things technology, the industry will eventually move to the state of industrial Internet. Through blockchain, big data, artificial intelligence and other technologies, financial services to the real economy will be more efficient, fast and safe. Through the supply chain financial service industry, through the value connection of the block chain, we can find the scene and service scene, and finally realize the technicalization of industry and service industry, guide more capital return entities and service entities, promote the transformation of manufacturing supply chain to industry, service supply chain and improve the manufacturing value chain.
Blockchain will lead mankind into a new field, a world with less fraud, less cheating, less traps, less exaggeration and less dishonesty, which is part of people’s pursuit of a better life. Therefore, the research and promotion of blockchain technology is closely related to the modernization of national governance capacity.
Editor in charge: CT