A Study On The Application Of Blockchain Technology In Supply Chain Finance

As an important part of China's economy,SMEs are constrained by the difficulty of financing during operation and development.According to 2019 OECD report,only 53.1% enterprises gained bank's support,the National Bureau of Statistics showed that over 45% of SME financing cost was above 8% in 2017.In China,supply chain finance for short SCF,has provided a solution to the financing trouble of SMEs.But in practice,SCF still has many problems like low efficiency,high cost of trade authenticity verification,and the delivery of core corporate credits.Since 2016,China has successively introduced policies to encourage technological innovation like blockchain to promote economic development.Practice and academic research have begun to explore the use of blockchain technology to provide SCF solutions.This article consists of four parts.The first part is literature review,which describes the current research status of SCF and blockchain technology at home and abroad.The second part discusses the problems of SCF,blockchain's technologies and characteristics and the application on SCF.The third part is a case study,it takes E-visible as an example to explain how blockchain technology is applied to SCF.The fourth part is suggestions for promoting to use blockchain technology as a measure to develop SCF,from government,industry,enterpriseandand technology perspectives.According to the case analysis,E-visible can effectively solves the problem of SCF like low financial efficiency,difficulty of verifying the authenticity of the trade background and credit transfer by core enterprises by offering trusted data pool technology and platform of trading and financing,achieving a win-win situation for suppliers,core enterprises,funders like banks and supply chain financial platforms.The E-visible is a typical and demonstrative case in the way of providing a brand-new solution for SME financing,and it has been well-known and recognized among the industry line and has been included a published books of China Ministry of Industry and Information Technology,providing a reference for SCF financial problems or similar companies operating and developing SCF business.