Block Chain Technology In M Project Asset Securitization Financing Applied Research

Currently,the reform of state-owned enterprises in China has entered the deep water area.Under the background of increasing downward pressure of macro-economy,although the benefits of state-owned enterprises have improved,the overall value-added advantage is not obvious.According to statistics,from January to August 2018,the total profits of Industrial Enterprises above designated size increased by 16.2%compared with the same period last year,and the total profits of Chinese holding enterprises increased by 26.7%compared with the same period last year.But if we can promote and realize the securitization of state-owned assets,then we can put many assets with advantages into the state-owned or holding listed companies,then the stock of state-owned assets will be effectively activated,at the same time,the liquidity will be improved,and it is easier for state-owned assets to be realized and traded.Moreover,once the assets of state-owned enterprises have been securitized,the total assets of state-owned enterprises are likely to get a huge increase^[30].However,many state-owned enterprises fail to realize the benefits brought by asset securitization,which leads to the lack of motivation for asset securitization.At the same time,due to the reasons of state-owned enterprises'own operation,market operation factors,supervision,policy imperfect system construction^[1],,as well as many participants in asset securitization products,complex transaction structure,many operation links,and data Many factors,such as relatively long transmission chain and more follow-up management matters,have seriously hindered the development and improvement of asset securitization of enterprises to a certain extent.However,with the rapid development and application of the Internet technology and the continuous development and maturity of the digital asset market,it will provide a wide practical application space for the natural advantages of block-chain technology in the securities registration,trading,clearing and other aspects of asset securitization^[16],to a certain extent,it will accelerate the integrated asset securitization trading with block-chain technology as the carrier Construction of the system.Therefore,it is of great significance to study the combination of the development demand of asset securitization and the application of block-chain technology to solve the development demand of asset securitization of state-owned enterprises in the period of economic transformation in China.Through the construction of asset securitization alliance chain platform based on block-chain database,the information asymmetry of asset securitization financing of M project of G provincial state investment group is caused by many factors in traditional mode,such as many participants,complex transaction structure,many operation links,relatively long data transmission chain and many subsequent management matters,high transaction cost,low operation efficiency and other problems are solved by the characteristics of the block-chain technology in the alliance chain platform,such as decentralization,non-tamperability,traceability,collective maintenance,privacy security,smart contract and so on.Through the analysis of the effect after implementation,it is concluded that the application of the Alliance chain platform has indeed improved the operation efficiency to a certain extent.In general,the asset securitization business activities that need to be completed in 450 days are reduced to350 days.During this period,the transaction cost of more than RMB 4 million used for asset securitization business activities is expected to save at least RMB 2.3 million used for transaction,and the expected income is obvious.On the other hand,it also shows that the construction of the alliance chain platform is successful and operable,which also has certain reference and guidance significance for other state-owned enterprises or financial institutions.