| Carbon trading is one of the most reasonable and effective carbon emission reduction mechanisms in existence.Carbon trading is now widely carried out in countries all over the world.Countries constantly improve the trading mode and optimize the market structure according to their own characteristics.Carbon trading model has aroused extensive interest of scholars and obtained a large number of research results.However,these studies still have the following problems.First,there is no study on maximizing trading volume based on the satisfaction of both parties.Second,it does not consider the participation of enterprises in carbon trading when capital is limited.Third,carbon finance and carbon trading are not combined to design a carbon trading model,that is,carbon futures and carbon spot are not integrated into the carbon trading model.Based on blockchain technology and intelligent matching algorithm,this paper builds a carbon trading model based on carbon finance to solve the above practical problems and make up for the lack of existing research.The carbon trading model is mainly divided into two collaborative modules,one is the carbon emission quota trading between the trading parties,and the other is the carbon financial loan between enterprises and Banks.Blockchain technology is mainly used to realize point-to-point carbon emission trading and financial loan process,and to realize the transparency of the whole trading process.With full consideration of market fair trading mechanism and satisfaction of both parties,the intelligent matching algor:ithm is designed including the two-stage matching algorithm of call auction matching and promoting matching to maximize the amount of carbon trading and realize the optimal matching of carbon financial loans.Carbon finance loan not only promotes the asset of carbon credits,provides bank loans to enterprises with financial difficulties through the mortgage of carbon futures,but also promotes the development of carbon finance.In case of default,Banks can wait for carbon futures to become carbon spot and trade on the market to ensure the safety of financial institutions.Therefore,on the one hand,this carbon trading model based on carbon finance can effectively improve carbon trading transparency,reduce carbon trading costs,maximize trading volume and improve the satisfaction of both parties.On the other hand,it can solve the financial difficulties of enterprises,guarantee the fund security of Banks,and promote the financing of carbon credit,so as to realize the coordinated development of carbon finance and carbon trading.In this paper,a two-stage carbon trading matching model based on carbon finance and a realistic auction model are implemented.The results show that,the two-stage matching transaction model has a higher number of transactions and a higher transaction success rate,and improves the overall satisfaction.With carbon finance adding to carbon trading model,the transaction proportion of carbon transactions is stable,and the transaction proportion does not change with the change of the proportion of enterprises with capital constraints,which solves the problem of capital constraints of enterprises.Carbon trading matching based on smart contracts and carbon financial loan matching can be executed quickly and accurately,which improves the transparency of trading information and guarantees the fund security of financial institutions.Innovation points of this paper:First,this paper designs an intelligent carbon trading model based on blockchain technology.Carbon trading and carbon financial loans based on blockchain can participate in point-to-point transactions between the two parties,realize the transparency of the whole transaction process,and the transaction information can be traced and cannot be tampered with,which is conducive to the realization of the asset of carbon credits.Second,this paper designs a carbon trading model that integrates carbon finance.In this paper,a carbon finance financing model is designed,in which financial institutions provide financing for enterprises with limited capital,and the combination of carbon spot trading and futures mortgage loans is conducive to solving the existing capital problems of enterprises,and promoting the capitalization and financialization of carbon emission.Third,this paper proposes a two-stage carbon trading matching model based on call auction matching and promoting matching.In the first stage,the advantage of call auction matching lies in promoting the completion of the transaction,and following the transaction mechanism of price priority and time priority to promote the fair trade.Promoting matching can be used to match the trading parties that have not been matched after the first stage with the goal of maximum overall satisfaction.Unlike the existing loan process,this paper designs a carbon financial loan match.Under the premise of satisfying the buyer’s requirements for loan duration,interest rate and the number of buyers’ loans,the one-to-many two-sides matching model is designed to promote the achievement of carbon financial loan transactions.Transactions are executed by smart contracts,fast and accurate. |
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