Research On The New Supply Chain Finance Model Of Warehouse Receipt Pledge In "Block Chain&Warehouse Receipt"

Supply chain finance is generally considered as a new financing mode for small and medium-sized enterprises.Warehouse receipt pledge financing business in supply chain finance has been used as a common means of bulk transaction financing in foreign countries.However,during the introduction of this concept in China for more than ten years,warehouse receipt pledge financing business has not been able to better reflect the function of multi-profitability of supply chain,and even many times,empty receipt pledge and empty receipt pledge have occurred.Repeated pledge is a major fraud accident.In 2012,Shanghai Steel Trade Incident involved hundreds of repeated pledge incidents,which brought huge losses to banks and the entire trading circle.Based on this background,this paper first reviews the related concepts,supply chain finance,warehouse receipt pledge financing business,block chain technology,and then defines and extends the specific concepts.This paper summarizes three scenarios of existing block chain technology implanted into supply chain finance,draws lessons from relevant operation modes,and puts forward a new supply chain financial model of "block chain plus" warehouse receipt pledge in view of the risk points of traditional warehouse receipt pledge business.The specific details involved in the new model are elaborated in detail,and a warehouse receipt pledge supply chain financial service system is designed and constructed.The application of each node in the supply chain is discussed,and the main effectiveness of the application of the system,the existing problems and the direction of future optimization are summarized.This paper evaluates the feasibility of the new warehouse receipt pledge supply chain financial model based on block chain technology to reduce the risks of the traditional model.Using analytic hierarchy process and fuzzy comprehensive evaluation method,the index scores and corresponding weights are obtained by expert scoring,and the different risk coefficients before and after the application of warehouse receipt pledge supply chain financial service system are calculated.Further,the Shapley value method profit distribution model based on risk correction is constructed by using risk factors,and the risk correction factors corresponding to different risk coefficients are calculated.Benefit allocation can present the results more intuitively by an example.This study proves that the warehouse receipt pledge supply chain financial model embedded in block chain technology can reduce the risk of the original model to a certain extent,especially the risk of repeated pledge.The distribution of benefits also shows that the application of this model can ensure the interests of SMEs,and further illustrates the practical significance and feasibility of this model.The construction of this model is helpful for its real landing,and also provides a reference value for the combination of block chain technology and supply chain finance.