Research On The Application Of Blockchain Technology In Supply Chain Finance ABS ——Taking "Qianbao (Tian Feng) 2020-1" As An Example

At present,all countries in the world are accelerating the transformation of all industries to informatization and intelligence.As a hot emerging technology in the new era,blockchain has become the focus of most countries.China also speeds up the layout of blockchain technology development,elevating it to the strategic technology at national level.Local governments and enterprises respond to the national call to actively explore the application direction of blockchain technology in various fields and promote the integrated development of blockchain technology and related industries.Supply chain finance ABS relies on the core enterprise credit,through the efficient transmission of data information in the supply chain,to satisfy the financing needs of upstream and downstream enterprises to activate receivables,so as to help each enterprise in the supply chain to achieve common development.However,as more and more enterprises join the supply chain finance,more and more supply chain finance ABS products are issued in the market,its problems are gradually exposed.For example,the traditional model relies too much on the core enterprise credit,the authenticity of trade background is difficult to check,the core enterprise credit is difficult to achieve multi-level circulation,and the operation efficiency is low,etc.These problems seriously restrict the innovation and development of supply chain finance ABS in further promotion and application.The key technology and technical characteristics of blockchain are naturally compatible with supply chain finance ABS,which can give play to its innate advantages and solve its long-standing problems.By analyzing related literature,firstly,the connotation,characteristics,developing status and existing problems of supply chain finance ABS are introduced by this paper,and then combining with key technology and technical characteristics of blockchain,the application feasibility of blockchain in supply chain finance ABS are analyzed by this paper.Then,this paper analyzes the product case of "Qianbao(Tianfeng)2020-1" which has been successfully issued.Through innovation model analysis,basic asset pool analysis,cash flow pressure test analysis,operational efficiency analysis and credit flow analysis,summarize the value of blockchain technology in supply chain finance ABS.Conclusion shows that the blockchain technology can realize the core enterprise credit multistage circulation,ease the difficulty in verifying trade background,improve the efficiency of ABS financing mode of the supply chain operation.More importantly,the cases use "N+N+N" model,it introduces multiple core debtors,it can effectively weaken the dependence on the core enterprise,control the risk.The successful application of blockchain technology has solved the development problems of supply chain finance ABS in many aspects,and can provide experience for other enterprises to apply supply chain ABS financing.Finally,some suggestions are put forward for the sustainable development of blockchain technology in supply chain finance ABS in the future.