| In recent years,with the deepening of Chinese securities securitisation reform,the asset securitization system is also more perfect.However,in terms of the traditional asset securitization model,there are still some problems,such as high financing cost and transaction cost,threatened security,and complex transaction process.Blockchain technology has the characteristics of decentralization,information non-tamability,traceability and distributed,and is an effective means to solve the problems of information asymmetry and risk management.At present,some financial institutions have begun to explore the application of blockchain in the field of bank credit ABS.The present thesis first explains the background and importance of the research.of blockchain and asset securitization,sorts out the existing research of scholars at home and abroad,analyzes the theoretical basis of asset securitization and blockchain technology,and believes that blockchain technology can establish an effective mechanism in asset securitization and suppress the defects existing in traditional asset securitization.On this basis,this thesis takes the first phase of personal housing mortgage support securities in 2018 as an example to analyze the characteristics of the profit2018-1 from four aspects of motivation,structure,risk and performance.First,we analyze the defects of ABS from the perspective of motivation,and blockchain technology can make up for this.Secondly,the alliance chain and underlying assets of the profit 2018-1 are analyzed from the perspective of structure.Then,we analyze the causes of the risk of traditional bank credit ABS from the perspective of risk,and and analyze the effect of asset securitization before and after the use of blockchain by constructing a credit game model.Finally,from the perspective of performance,the analysis of a series of "profit" products using blockchain technology are compared,and then the profit 2018-1 and six RMBS without applying blockchain technology are compared.Through the above research,this thesis draws the following conclusions: after the use of blockchain technology(1)promote the "decentralization" of transaction structure;(2)reduce credit risk;(3)improve business performance;(4)increase update and upgrading costs.Block chain technology applied in the process of asset securitization of assets,establish trust,control credit risk,at the same time can improve efficiency,reduce costs,but the development of block chain technology information management and regulation,therefore,the development of block chain technology need to constantly improve its information management system,continue to help the development of asset securitization,and promote the block chain technology application mode innovation and development. |
