Blockchain-Based Small Loans To Farmers Model Innovation Research

With the gradual rise of block chain technology as an important part of national strategic deployment,its decentralized and traceable features in the field of financial support for agriculture are also increasingly valued.Small loans to farmers play an important role in promoting the common prosperity of farmers.However,the small loan model of farmers in Weishi County of Kaifeng still takes the form of traditional financial services.Due to factors such as complicated loan process,low level of farmers’ culture and poor information communication,farmers’ willingness to lend is low,and the operation services of rural banks can only meet the loan demand of a small number of farmers.However,the openness and decentralization of the block chain as well as the intelligent contract and consensus mechanism can improve the efficiency of farmers’ loans and improve the service level of banks,which is in line with the characteristics required by the existing loan model.Therefore,the introduction of the block chain technology into the small loan model for farmers can realize the information sharing among the model subjects,solve the problems existing in the existing loan model in Weishi County of Kaifeng,and expand the application scenario of the block chain technology in the field of rural finance.First of all,based on information asymmetry theory,financial exclusion theory,imperfect competitive market theory and inclusive finance theory,through literature analysis,this paper sorts out and compares the research status of domestic and foreign farmers’ microfinance model innovation and its combination with blockchain.The analysis shows that small loans for farmers can obviously improve farmers’ income level and promote high-quality development in rural areas.The relevant characteristics of blockchain technology can change the existing financing pattern.Therefore,the application of blockchain technology to loans is also the development direction of rural finance.Secondly,through the methods of questionnaire and on-the-spot investigation,this paper investigates the small loan model of farmers in Weishi County of Kaifeng.By combing the model framework and main functions of Weishi County in Kaifeng and processing the questionnaire results,the following problems are found in its existing model: low willingness of farmers to lend;low level of bank risk control;poor communication among the model subjects;It is difficult for the model subject to supervise the banks;Lack of professional talents.Thirdly,through the analysis of the "double-chain" loan from Ant Financial Services,the "micro-chain" loan from Weizhong Bank and the rural land mortgage loan from Guizhou Province,this paper obtains the following inspirations: the government supports the innovative development of the guarantee loan model;(2)Exchange and cooperation between banks to promote the stability and safety of the loan model;Industry-University-Research Cooperation in Financial Sector Promotes Innovative Research and Development of Loan Model.Then,based on the problems of the existing micro-loan model in Weishi County of Kaifeng,the relevant characteristics of the block chain and the experience of domestic micro-loan model innovation,this paper constructs the "block chain+farmer micro-loan model".Through the farmers’ information sharing platform for information collection,data uploading,business handling and platform supervision,and with the technical support of internet of things,big data and supply chain,this model has the following advantages: reduce the loan cost;breaking the information island;improving the level of wind control;Rebuilding the credit system.Finally,this paper combines the experience with the problems of the existing micro-loan model in Weishi County,Kaifeng,and the promotion of block chain technology,and puts forward targeted countermeasures and suggestions in network infrastructure,talent reserve,subject communication mechanism and supervision mechanism,to promote the practical application of block chain technology in micro-loan for farmers.