Recently, relying on the blockchain technology, the first domestic small and medium-sized enterprises completed the loan in the air ticket agency industry without guarantee and mortgage. Relying on Qikun technology’s blockchain, big data, cloud computing and other technical means to capture the real operating cash flow data of the underlying assets, Zhongrong Tianxia commercial factoring injected financial liquidity into the loan enterprises based on the real cash flow, which was carried out by the Bank of China Supervision of loan capital account. This is also the first lending business in China, even in Japan and Europe to use a variety of financial technology means to separate supply chain financial factoring from the guarantee of core enterprises.
Top management of Qikun technology introduces the “blockchain financing platform for small and medium-sized enterprises“
It is reported that this business covers 20 million underlying assets and the total amount of the subject matter is nearly 10 million yuan. The whole process of lending is completed on Qikun technology’s building of “small and medium-sized enterprise blockchain financing platform”. The platform aims to truly record and present the cash flow formation process of small and medium-sized enterprises through financial technology, so as to help them obtain unsecured and non offset based on the real accounts receivable data Mortgage loans. Kikun technology invited more than ten guests, including industry associations, licensed financial institutions, small and medium-sized enterprise owners, to discuss how financial technology can help small and medium-sized enterprises expand financing channels and empower the real economy.
Financial technology restores the nature of assets
For a long time, the financing of small and medium-sized enterprises is difficult and expensive. As far as China is concerned, there are two main reasons for this situation. From the perspective of external factors, China’s credit system construction has been in an imperfect state for a long time, which increases the information asymmetry of external financing institutions to small and medium-sized enterprises. From the perspective of internal factors, on the one hand, the financing of small and medium-sized enterprises has the characteristics of “short, small, frequent and urgent”, on the other hand, there are many short boards restricting their access to external financing, such as: disordered financial management, disordered operation management, disordered personnel management, etc.
In order to avoid investment risks, financing institutions prefer enterprises and projects with many fixed assets, high credit rating or strong third party as guarantee, while many small and medium-sized enterprises have good cash flow but no real estate and other fixed assets as collateral. At the same time, due to the imperfection of credit reporting system, they cannot obtain high-level credit. Therefore, it is a common practice in the capital market Financing mode is not friendly to SMEs. At present, a small number of small and medium-sized enterprise loan products in the market are often guaranteed by the personal property of the enterprise legal person as joint and several liability mortgage, the amount of which is mostly about one million, so it is difficult to support the daily operation and business development of the enterprise.
The essence and core of asset securitization lies in the asset, that is, the ability of the asset to pay the principal and interest, that is, the future cash flow, collateral and guarantee are all expedient measures in the situation that the future cash flow cannot be seen or controlled. Zhu Shaokang, CEO of Qikun technology, believes that at present, in addition to the main credit of collateral and guarantors, it is a more fair and transparent standard to use cash flow creation ability as the securitization support of many light asset companies. However, in the past, the real process and behavior of cash flow generation are difficult to be penetrated and captured 。
The “small and medium-sized enterprise blockchain financing platform” built by Qikun technology penetrates assets through blockchain, big data, cloud computing and other technical means, so as to return the nature of asset securitization, that is, to enable investors to see the ability of the asset side to return funds and bring benefits, that is, the ability to create future cash flow, which helps many light asset companies with strong cash flow have securitization The possibility of financing. In this process, through a variety of technologies, the whole process of tracking the asset side’s use of funds, the generation and collection of cash flows is not only the contract text of key nodes, but also to ensure the initial source and authenticity of the data, which undoubtedly provides a crucial guarantee and support for the safety of funds.
Ge Zhenghao, founder of Yutai aviation service, said at the seminar: the ticket agency industry is now a low profit industry, but the cake of the overall air ticket market is very large. In order to occupy a larger market share, the ticket company needs a large amount of advance funds to seize the seats, which is a great financial pressure for enterprises. Although there are also credit lines given by banks at present, the credit line is very low, which is difficult to support enterprises to expand their operations. Through the financing platform of small and medium-sized enterprises of Qikun, it can help ticket companies to obtain loans only by real accounts receivable, which was previously unimaginable.
Blockchain locks in “real cash flow”
Qikun technology has long been committed to promoting the development and innovation of financial business with science and technology. As a technical service provider, it uses Internet of things, cloud computing and blockchain technology, cooperates with banks, factoring companies and other licensed financial companies, successfully realizes financing and loan services based on the future cash flow of enterprises, and owns 12 US patents in the field of asset digitization and securitization packaged with blockchain.
Taking the “blockchain financing platform for small and medium-sized enterprises” as an example, Qikun technology ensures that the first-hand raw data of the whole transaction closed-loop is on the chain as it is, which can’t be tampered with to present the real transaction, and establishes the cross verification model of blockchain to monitor the authenticity of information flow, goods logistics, cash flow and invoice flow by building the alliance chain, establishing multiple nodes to jointly account and connecting with many third-party authoritative data And cooperate with the bank to open a fund monitoring account, complete the penetration supervision of assets, lending funds and collection funds, and ensure the double closed-loop of business and funds. Let the funders know the real situation of assets more clearly, so as to provide financing services for SMEs in the form of unsecured and unsecured.
Ma He, head of capital management department of Ping An Bank Beijing Branch, pointed out at the meeting: “there are two important risks for banks to do SME loan business: one is the untrue business data of enterprises, and the other is that enterprises transfer loan funds for other purposes, which are well solved in your system.”
As an important force of China’s economic and social development, small and medium-sized enterprises play an irreplaceable supporting role in job creation, technological innovation, economic development and other aspects. Recently, the central bank, China Banking Regulatory Commission and other departments jointly issued the report on financial services for small and micro enterprises in China (2018), which requires further improvement of financial services for small and micro enterprises, and proposes to “strengthen the application of financial technology and improve the efficiency of financial services for small and micro enterprises”, which points out the direction for the development of financial technology. I believe that in the future, through the technical strength of Qikun, it is expected to solve the financing problems of small and medium-sized enterprises in China, such as financing difficulties, financing costs and so on, so as to help finance empower the real economy.