Research On The Innovation Of Supply Chain Finance Model Based On Blockchain Technology

Small and medium-sized enterprises(SMEs)are the driving force of China’s national economy and social development.However,as these enterprises grow,their financing needs become increasingly significant,and they face long-term development bottlenecks due to financing constraints.In this context,supply chain finance has become an effective means of solving the financing difficulties of small and micro enterprises.However,as supply chain finance rapidly develops in China,its risk issues are increasingly highlighted.For example,insufficient trust between SMEs and core enterprises,inadequate risk identification capabilities of commercial banks towards core enterprises,some supply chain finance businesses relying on the credit endorsement of core enterprises,resulting in high financing thresholds for SMEs,and core enterprises not transferring receivables in a timely manner.As supply chain finance is highly specialized,its risk prevention and control ability and difficulty are relatively high.Blockchain technology,with its characteristics of decentralization and openness,can be used to achieve safe and efficient financing for SMEs through techniques such as shared ledgers and smart contracts.Blockchain can ensure the authenticity of transaction information and solve data sharing problems,thereby improving the risk prevention and control ability of supply chain finance and becoming the key to solving supply chain finance problems.Based on the above background,this article takes Ant Group’s Ant Chain as an example to analyze and study the integration mode of Blockchain technology and supply chain finance,aiming to explore a Blockchain-based approach to improve supply chain finance and provide some ideas for innovation in China’s supply chain finance model.The article first introduces the relevant concepts and theories of Blockchain technology and supply chain finance,analyzes the current main modes,status,and difficulties of supply chain finance,and dissects the problems faced by traditional supply chain finance in trust establishment and information asymmetry.Secondly,the article introduces Blockchain technology,aiming to improve the transparency and credibility of supply chain financing by utilizing its decentralized,traceable,and tamper-proof characteristics.Then,through the introduction of the basic situation and operation mechanism of Ant Group’s Ant Chain platform and its practical application cases in accounts receivable financing,warehouse receipt pledge financing,and advance payment financing,the article analyzes the operation process and application effects of Ant Chain’s supply chain finance business model.Finally,by comparing the before-and-after applications of Ant Chain by different participants,the advantages and risks of Ant Chain’s blockchain + supply chain finance platform are identified,and improvement suggestions are proposed.Based on this,the article aims to propose ideas and measures for solving supply chain finance problems using Blockchain technology,provide references for innovation in China’s supply chain finance model,help solve the financing difficulties of upstream and downstream small and medium-sized enterprises,and promote the high-quality development of China’s digital economy.