Research On Trust Mechanism Between Supply Chain Financial Entities Under Blockchain Architecture

In the promotion of digital supply chain construction in China,the information asymmetry between supply chain enterprises and banks leads to a serious lack of trust among the main bodies of digital supply chain system.Many small and medium-sized enterprises have difficulties in credit and financing.The characteristics of blockchain technology,such as decentralization,verifiability,tamper resistance and so on,can increase the transparency and traceability of supply chain information to get through the underlying data of supply chain financial entities,realize efficient information sharing,provide a good application foundation for the cooperation between supply chain enterprises and the supply chain financing business relying on real transaction data,and improve the overall efficiency and income of the supply chain.However,when there is a lack of trust between entities,whether in the process of information sharing and cooperation between enterprises or supply chain financing,the high default rate and credit risk limits the maximization of group income,which makes it difficult to give full play to the advantages of blockchain technology.Therefore,this study focuses on the impact of blockchain technology and trust mechanism on the decentralized decision-making and overall revenue of digital supply chain financial entities,and proposes trust optimization scheme to provide decision-making reference for the supply chain financial system.This research synthesizes the existing literature and the development status of the digital supply chain.First,based on the perspective of the trust mechanism under the blockchain architecture,an evolutionary game model of information sharing between digital supply chain enterprises is constructed from the perspectives of reputation,credit,and information benefits,comparing and analyzing the dynamic evolutionary path of enterprise decision-making before and after the introduction of trust mechanism.Game analysis results show that the evolutionary stable strategy of digital supply chain companies for information sharing under trustless mechanisms is(sharing,sharing)or(non-sharing,non-sharing).At this time,the initial state of evolution is affected by the synergy coefficient,risk coefficient,cost coefficient and other influences.Under the trust mechanism,there is only one evolutionary stable strategy(sharing,sharing)for an enterprise,and trust subsidy is a key parameter that affects the enterprise's willingness to share.Then,in an environment where digital supply chain companies establish trust relationships,a three-party dynamic game model of the supply chain financial factoring business system is established.In the comparative analysis before and after the introduction of the blockchain,it is found that under the combined effect of the reputation,credit and economic gains obtained by the company in keeping its promises,as well as the great punishment for dishonesty,there is a unique strategy combination(loan,repayment,repayment)in the system.The degree of trust between banks and enterprises has a significant impact on the overall income of the supply chain financial system,and increasing the degree of trust within a certain range can achieve the Pareto optimum for maximizing group income.Research shows that the trust mechanism can promote supply chain companies to obtain higher digital asset value and group income through information sharing through blockchain.The dual role of blockchain technology and trust mechanism can effectively reduce the default rate of supply chain financing enterprises,and highlight the mechanism and value of trust between banks and enterprises in overall income of digital supply chain financial system.Small and medium-sized and micro enterprises can realize digital credit self-credit by virtue of information transparency and non-destructive credit penetration of core enterprises,and fundamentally solve financing problems,which is conducive to the financial ecological development of digital supply chain.