Research On Supply Chain Financing For The MX Company Based On Blockchain Technology

The development of the private economy has been significantly hindered by the difficulty of financing small and medium-sized enterprises.To address this,a variety of new financing models have been developed,one of which is supply chain financing.This model allows SMEs to depend on the credit guarantee from the primary companies in the supply chain for financing,while also reducing the approval requirements of financial institutions,etc.However,there are still many problems with traditional supply chain financing,such as fictitious trade,self-insured self-financing and repeated false manifests,which are all factors restricting the development of the supply chain financing model.The traditional financing method,with its lengthy data review,intricate assessment process,and sluggish lending velocity,has created a challenge of costly and arduous financing for SMEs in the supply chain,which is not conducive to the industry’s further rapid growth.MX New Energy Automobile Company is the focus of this thesis,which draws upon supply chain management theory,self-reimbursement trade finance theory,information asymmetry theory,transaction cost theory,and the work of both domestic and foreign scholars on supply chain.financing research and blockchain technology research basis,using literature research method,case study method,comparative analysis method and other related research methods,designed and built a blockchain technology-based supply chain financing of MX Company Q system platform.The supply chain financing system platform,which is based on real trade background,enables information transmission and online financing for distributors,suppliers,and N-level suppliers in real time.It also introduces all chain participants such as distributors,core enterprises,financial institutions,and suppliers to the platform.The supply chain financing system platform also realises electronic vouchers for accounts receivable,using the Q platform as a new type of electronic payment voucher,which can be split,transferred and financed.Through the study,it is found that the Q platform model based on blockchain + supply chain financing is firstly conducive to deferring cash payments,changing from MX’s financing to pay for purchases to direct financing realisation by suppliers and reducing MX’s financial costs.Secondly,the supply chain financing for dealers is conducive to promoting the sale of vehicles by MX,achieving a rapid recovery of sales payments and stimulating sales.Thirdly,the construction of the supply chain financing system breaks the limitation of information asymmetry between the financier and the financier,using the system based on the real trade background to achieve real-time data sharing and transmission,providing a way of financing for SMEs,while the development of the Q platform is conducive to reducing the overall transaction costs of each participant,and with the gradual accumulation of credit by level,there exists the possibility of realising the full circulation of the Q platform for payment in the future The construction of MX’s supply chain financing system is conducive to the overall interests of MX’s chain participants,maximising their benefits and promoting the further development of the new energy vehicle industry chain.The financing model also provides an idea for other similar companies to follow.