Research On Port Bulk Material Trading Financing Mode Based On Blockchain Technology

The port commodity trading need to occupy a lot of funds of traders.Therefore,traders often need to apply for financing from commercial banks,and pledge the stockists to banks to obtain operating funds.In recent years,however,due to information asymmetry between banks and traders,it's difficult to verify the ownership and authenticity of warehouse receipts,a lot of counterfeiting warehouse receipts and repeated pledges by traders have frequently occurred,which has brought great financing risks to banks.Blockchain has technical advantages such as immutability,decentralization and traceable,which can solve the problem of information asymmetry among business members,also can provide authentic proof of ownership,which has a high degree of compatibility with the port commodity trade financing.Based on the key obstacles of port commodity trade financing,this thesis builds a block chain-based port commodity trade financing mode.The system architecture,data sharing and verification scheme,chain code structure,transaction accounting method and trade finance process of the port bulk commodity trade financing have been designed.In the blockchain mode,banks can eliminate the asymmetry of logistics information with traders.Moreover,the block chain can influence the financing behavior of traders from the two dimensions of adverse selection and moral hazard,making it less likely that traders will choose to default at the end of the period.This article builds a loan-to-value ratio decision model of bank based on the blockchain.Under the blockchain mode,banks no longer need to consider the possibility of traders counterfeiting warehouse receipts or repeated pledges,only need to consider the impact of changes in the market order quantity and the total value of the quality market on the performance of traders.Based on these,the bank's expected return segmentation function is constructed,with the goal of maximizing the expected return,the bank's lower side of risk limits strategy is taken into account at the same time,finally the bank's optimal expected return and the highest loan-to-value ratio are calculated.Finally,the example numerical analysis and sensitivity analysis have been performed.It is found that the expected revenue of banks and the loan-to-value ratio are inversely related to the fluctuation of the order volume,and are positively correlated with the change of discount rate of pledged goods.The bank loan-to-value ratio decision model under the blockchain mode is compared with the traditional mode,and it is found that the maximum expected revenue and the highest loan-to-value ratio are better than the traditional mode,which is because under the traditional mode,traders may have counterfeiting warehouse receipt or repeated pledges possibility,and when the total market value of pledged goods is lower than the financing principal and interest,the default probability of the trader is higher.In the blockchain mode,banks can obtain higher revenue,and traders can obtain higher loan-to-value ratio.Hence,this mode is beneficial to both financing parties and can effectively promote commodity trading business development.