Research On The Application Of Blockchain In Accounts Receivable Financing

With the increasing competition in the domestic market,the dominant position of the buyer in the transaction is becoming more and more obvious,which leads to the supplier enterprises have to accept to expand sales by credit.Small and medium-sized enterprises are located in the upper end of the supply chain,holding a large number of accounts receivable,squeezing the normal cash flow of enterprises,resulting in business difficulties.Accounts receivable financing can help enterprises realize sales collection in advance,accelerate the turnover of working capital,relieve the pressure of capital,and solve the financing difficulties faced by small and medium-sized enterprises under the traditional mode.In recent years,the government has actively advocated financial entities to serve the economy,encouraged the development of accounts receivable financing,innovated and revitalized the stock assets of enterprises,and assisted the financing of small and medium-sized enterprises.Based on the genetic characteristics of integrating four streams,supply chain finance has been regarded as a natural remedy to solve the persistent problem of "financing difficulty of small and medium-sized enterprises".However,the traditional supply chain finance accounts receivable financing method is faced with some problems,such as trade background fraud,core enterprise credit can not be transferred across levels,approval and authorization process is cumbersome,which makes it not achieve significant effect in solving the financing problem of small and medium-sized enterprises.The development of financial technology provides a new solution for supply chain finance to solve business pain points.Among them,block chain technology and supply chain finance are naturally complementary.Block chain technology uses distributed accounting,smart contracts,encryption technology and other technical principles,which can realize the assets on the chain,decentralized share registration,intelligent management of business rules,etc.,truly break through the information barriers between core enterprises,small and medium-sized enterprises and banks,and solve the problems of confirming the right of accounts receivable,narrow scope of financing subjects and flow of financing tools under the traditional mode Turn difficult and other pain points,resolve the financing difficulties and expensive of small and medium-sized enterprises.This paper uses the method of combining theoretical research and case study to explore the specific application of blockchain technology in the actual business operation of receivables financing.Firstly,by combing the relevant literature,this paper introduces the definition,technical characteristics and core technical principles of blockchain,analyzes the advantages of blockchain technology in solving the traditional accounts receivable financing pain points,and sorts out the specific operation process of accounts receivable financing based on blockchain technology.Then,the case " E-visible " financing platform is introduced,and the practical scenario of blockchain technology applied to receivables financing is analyzed by studying the solution of E-visible receivables financing.Through case study,it is concluded that the receivables financing based on blockchain technology can achieve mutual benefit and win-win results,convert the credit resources of core enterprises into efficient capital resources,meet the needs of key enterprises to reduce leverage and reduce liabilities;blockchain technology solves the information asymmetry problem in traditional receivables financing,breaks the information island among enterprises,and reduces the financial institution style Control pressure;the core enterprise credit can be transferred on the chain to realize the financing coverage of the middle and lower middle and lower middle and lower middle-sized enterprises in the supply chain;meanwhile,it is found that the current E-visible financing service platform still has some shortcomings.Finally,in view of the common problems of blockchain in supply chain finance,this paper puts forward some suggestions,so as to promote blockchain technology to better enable financial services.