Design And Implementation Of Supply Chain Financial System Based On Blockchain

Under the background of mass entrepreneurship and innovation,a large number of small and medium-sized enterprises have emerged.Such enterprises are difficult to obtain loans from banks due to low credit ratings and the inability to provide corresponding collateral.Banks are also likely to ignore the financing needs of such enterprises due to risks and costs,and only willing to finance small and medium-sized enterprises that have endorsed by the relevant core enterprises.However,due to the centralized design of the traditional supply chain financial system,the authenticity of transaction information in the system and the security of participating corporate privacy information cannot be guaranteed.Most companies are not willing to participate.In this paper,a blockchain-based supply chain financial system is implemented using the Hyperledger Fabric blockchain framework,so that the transaction information of each participating enterprise is recorded in the blockchain ledger,and the decentralization,non-tamperability and traceability of the blockchain are utilized to ensure the authenticity and security of the system information.Through this system,SMEs can initiate mortgage financing to banks for accounts receivable from core enterprises,banks conduct financing audits and post-loan monitoring through the system;reduce the financing costs of SMEs and bank credit costs,and improve the efficiency of the entire supply chain.This paper proposes a blockchain-based privacy protection design to further enhance the security of system information,and use blockchain smart contracts to automatically process related contracts,reduce supply chain costs and corporate malicious breach of contract,improve financing efficiency.Specifically,this article has the following innovative results:·This paper analyzes the current problems of traditional supply chain financial systems,then analyzes and optimizes the demand of supply chain financial systems based on blockchain.According to the analysis of system demand,a special architecture design of the supply chain financial system based on blockchain is proposed.The UML sequence diagram is discussed by the function module division for each function point.At the same time,based on the module design of supply chain finance,the development of the chain code in the above blockchain system was completed.Finally,the system was deployed and tested.·Aiming at the problems of easy disclosure,abuse and malicious tampering of transaction information in the traditional centralized architecture supply chain financial system,this paper proposes a blockchain-based privacy protection design,the design scheme enhances the privacy and security of information in the supply chain financial system by means of data encryption and separation of the underlying data,and improves the query efficiency of blockchain information.·Aiming at the low efficiency of the system consensus in the current Hyperledger Fabric blockchain framework,the latest consensus algorithms for solving byzantine fault are analyzed in detail,and an improvement based on PBFT and REPBFT consensus algorithm is proposed.The algorithm can use less nodes to achieve system consensus to improve efficiency.At the same time,a dynamic node protocol is proposed to prevent frequent switching of system working modes and long-term work in the PBFT mode brings system loss and improves system robustness.