Design And Implementation Of L Bank Factoring Financing Smart Contract Based On Block Chain

As a financing method for the transfer of accounts receivable,factoring financing business is completely consistent with the commercial environment of domestic credit sales,and has become one of the most extensive and mature supply chain financial business models in China.However,in the actual development of factoring financing business,there has been a long-term problems,such as difficulty in confirming the rights of accounts receivable,cumbersome business review and due diligence process,and default in financing settlement.Commercial banks(factors)not only have to bear business risks,but also for this Paying high costs makes the business less motivated and inefficient.It not only restricts the development of bank-side factoring financing business,but also makes it difficult for small and medium-sized enterprises to obtain financing quickly.The blockchain has the characteristics of decentralization,traceability,and data immutability,which can establish a credible trading environment for factoring financing business.Blockchain smart contract technology can replace traditional contracts,realize automation and intelligence of business processes,solve problems such as difficulty in confirming rights,cumbersome processes,and settlement defaults,providing an opportunity for the healthy development of Supply chain factoring financing business in china.This paper takes the construction of new factoring financing model as the main entry point.Taking commercial bank L as the research object,this paper conducts a survey on the current situation of L bank's factoring financing business,analyzes its factoring financing business model and existing problems,and applies key blockchain technologies and smart contract-related mechanisms.This paper proposes a design scheme of a smart contract for factoring financing based on blockchain.The Fabric blockchain platform was selected as the underlying architecture to design four nodes,including regulatory agency,seller,buyer and bank,to build the Supply chain factoring financing business main body alliance chain system,reshape the different links of the existing business model.The development of the financing smart contract has been completed,and the functional test has been completed,realizing a factoring financing business scenario based on the blockchain smart contract.In the process of smart contract construction,the business needs of the actual factoring financing business were fully studied,the factoring financing strategy model was designed and added,and the financing risks and capital costs borne by the bank under different business participants were considered.The selection of financing indicators and the classification of financing interest rates provide differentiated financing solutions for banks to conduct business.This paper achieves the overall goal of designing smart contracts for factoring financing business,and proposes a new solution to the current pain points and difficulties in factoring financing business.Digital processing of rights confirmation,review,settlement and other businesses,which rely heavily on manual labor.It ensures that after the preset rules and conditions are met,the business judgment is automatically carried out,and the automatic execution of the factoring financing business process is realized.This solution reduces transaction and contract execution costs and risks and improves business efficiency.At the same time,as an exploration of smart contract application in the traditional supply chain finance,it provides a reference for the government and enterprises to implement,apply and research smart contract in the future.