Research On Blockchain-based Financing Model Of Supply Chain Finance

The blockchain-based financing model of supply chain finance is an upsurge in the supply chain financial market.As a new type of supply chain financial product,it provides an effective financing method for small and medium-sized enterprises(SEMs).The transparency of information among the subjects in the supply chain is one of the important factors that influences the financing and decision-making of the subjects.Traditional supply chain finance has problems such as information islands and inability to transfer credit due to information asymmetry,which makes it impossible for supply chain finance to solve the financing needs of small and medium-sized enterprises.In the blockchain-based financing model of supply chain finance,small and medium-sized enterprises that are subject to capital constraints apply for financing through the blockchain financial platform.Fund providers such as commercial banks can apply for funds based on the immutable information in the blockchain platform system.SMEs conduct evaluations to avoid the costs and risks are caused by information asymmetry.At the same time,the core enterprise credit covers all enterprises in the chain through the platform,and the SMEs obtain financing with the help of the core enterprise credit.Each subject in the supply chain can benefit from the blockchain-based financing model of supply chain finance in different aspects.The study takes supply chain transparency as an entry point,and it uses the establishment of mathematical models and numerical analysis methods to study the quantitative value of blockchain-based financing model of supply chain finance.In the context of information asymmetry among supply chain financial entities,suppliers' own funds are constrained,and core companies have random market demands,the blockchain-based financing model of supply chain finance and traditional model of supply chain finance have been established respectively.By comparing and analyzing the difference in expected income of core enterprises and the overall supply chain under the two models,the research studies and discusses the advantages of the blockchain-based financing model of supply chain finance.Finally,the study verifies the models and formulas through controlled variables and numerical simulations to analyze the impact of changes in supply chain transparency and blockchain financial platform charge ratios on the expected returns and financing decisions of the entities in the supply chain.Research shows that under a certain blockchain financial platform ratio,regardless of changes in supply chain transparency,all parties in the supply chain and the overall revenue of the supply chain under the blockchain-based financing model of supply chain finance are significantly higher than the traditional model.With the increase of supply chain transparency,the supply chain financing cost caused by information asymmetry has decreased,and the profit gap between the parties in the supply chain under the two models has decreased.This shows that the blockchain-based financing model of supply chain finance is conducive to improving the benefits of all parties in the supply chain.This model concentrates the blockchain-based financing model of supply chain finance improves the transparency of the supply chain and reduces the financing costs of small and medium-sized enterprises to achieve a win-win situation for all parties.