Blockchain Technology Based One Note Supply Chain Finance Platform Case Study

With the development of China’s economy,the proportion of small and micro enterprises in the market is increasing,but due to the influence of internal and external factors,the credit structure of financial institutions is seriously imbalanced,and financing for small and micro enterprises has become difficult and expensive.In order to solve the financial threshold brought by individual credit assessment in the traditional financing model,supply chain finance was born,which shifts the credit assessment object from a single enterprise to the whole supply chain,realizes selfreimbursement financing with the accounts payable of core enterprises,and reduces the risk of capital return.However,under the background of information asymmetry,it is difficult to guarantee the authenticity of trade background,and it is difficult to effectively transfer the credit of core enterprises to distant suppliers,so that the real utility of supply chain finance cannot be played out.In this paper,we take One Note supply chain finance platform as an example and analyze how blockchain technology empowers supply chain finance and alleviates the financing dilemma of micro and small enterprises,starting from the core pain points of supply chain finance.First,we analyze the pain points of supply chain finance from the operation mechanism of supply chain finance,and analyze how blockchain technology can solve the pain points of supply chain finance from the theoretical level with the help of blockchain consensus mechanism,smart contracts and other core technologies.Then,taking One Note supply chain finance platform as the main case study,we explore how blockchain can empower the underlying architecture of the platform,such as building five security systems and four core functions based on blockchain technology,building electronic credentials with distributed ledger technology,and realizing the splitting and transferring of credentials with the help of smart contracts,finally forming the core functions of the platform such as credential management and financing management.In the blockchain-enabled underlying architecture,blockchain technology is decentralized,open,tamper-evident,traceable and other characteristics to solve the pain points of supply chain finance and bring out the real value of supply chain finance;and through comparative analysis method,comparing One Note Finance with other supply chain finance platforms,we found that One Note Finance’s business scale is limited and business process is slow,and there is also There is some room for improvement,such as the initial data authenticity is difficult to guarantee,blockchain technology is not fully mature,the rate is difficult to match,and the privacy and sharing is difficult to trade-off.Finally,it is concluded that the use of blockchain technology can solve the pain points of supply chain finance and maximize the utility of supply chain finance;moreover,pure technology enterprises can develop special products from technical support to enhance their competitiveness;there is still much room for improvement for each supply chain finance platform based on blockchain technology.The relevant policy recommendations are as follows: each platform can further deepen the coupling of blockchain technology and supply chain finance from the perspective of reward and punishment mechanism,interconnection and technology enhancement.