How Is Blockchain Reshaping Supply Chain Finance

In the process of rapid economic development of our country,small,medium and micro enterprises,as an important unit of the national economic achievements,are an indispensable part in all aspects,such as solving employment problems and scientific and technological innovation.However,for a long time,the government's financial support policies for small,medium and micro enterprises have not matched its important role in the development of the national economy.Small,medium and micro enterprises often face the problem of financing difficulties in corporate development.Supply chain finance for the financing of small,medium and micro enterprises has been spawned and has shown a certain value.However,in the practice of enterprises,it has been found that it has not touched the essence of the problem and cannot solve the problem of credit circulation of core enterprises.In this context,the emergence of Bitcoin has allowed people to focus on its underlying technology-the blockchain.Although the future of Bitcoin is still unclear,blockchain has already shown great potential in reshaping business models.The rapid development of this type of financial technology has accelerated the transformation of the real economy to a digital economy.As a new era of technology,the blockchain has been used in the financing of small,medium and micro enterprises,and the whole society has seen its advancement.The distinguishing feature of the blockchain lies in its transparency and immutability,and this feature happens to have natural advantages in solving the problems of trust between multiple transaction subjects,small and medium-sized enterprises' credit self-certification,and benefit distribution in the supply chain financial business scenario.Experts and scholars at home and abroad have explored the possibility of the combination of blockchain and supply chain finance,that is,how to embed blockchain technology in the coordination of the interests of small and medium-sized enterprises,financial institutions,and core enterprises to optimize this process and solve supply chain finance.The pain point has become the focus of research of all parties.In this paper,interviews and speeches of 10 supply chain finance experts/blockchain technology experts were collected as research samples,and cognitive maps were used as the main data analysis technology to help understand and evaluate the cognitive complexity of people's understanding of blockchain technology.This paper aims to explore what value the emerging blockchain technology can really bring to the supply chain finance industry,and thus raises three research questions :(1)What are the driving factors for the adoption of blockchain technology in the supply chain finance?(2)What is the real value of blockchain technology to supply chain finance?(3)What are the challenges facing the further development of blockchain technology in supply chain finance? In view of the pain points of supply chain finance,this paper gives the solutions and countermeasures to the innovative development of supply chain finance driven by block chain.It was found that different specialists developed different cognitive structures in their own perceptual processes.After incorporating the personal cognitive map into a strategic ma p,the paper identifies several themes and central concepts,and then goes on to explore potential answers to these three questions.