Research On Supply Chain Finance Innovation Of China Zheshang Bank Based On Blockchain Technology

With the widespread existence of funds occupied by assets such as prepayments,accounts receivable and inventories of various trading entities in the development of the supply chain,supply chain finance has played a positive role in promoting the financing needs of the vast number of small,medium-sized and micro enterprises,especially private enterprises with insufficient assets.The Bank has also opened new business markets with this,so it is welcomed by both lenders and borrowers.However,in the supply chain finance implementation of China Zheshang Bank,there are still obvious problems such as difficulty in financing accounts receivable,single prepayment financing service scenario,weak inventory financing risk management and control,which affect the rapid growth of its supply chain finance business scale and fail to solve the problem of financing difficulties and expensive for SMEs.In this case,how to solve the root problem of supply chain finance problems through innovation is of great significance.Based on blockchain theory,supply chain finance theory and financial innovation theory,this paper studies the innovation path of China Zheshang Bank driven by blockchain technology on the basis of analyzing the current situation,problems and causes of supply chain finance of China Zheshang Bank.This paper sums up four reasons for the problems in supply chain finance of China Zheshang Bank: asymmetric information,difficult to verify information,difficult to trace data,and cumbersome transaction procedures.Through the research on the core features and functions of the blockchain technology,it is found that based on the blockchain technology,the parties’ transaction information on the chain can solve the problem of information asymmetry,the transparency and openness of block data and processes can ensure that information cannot be tampered with,the traceability of data can help the bank’s post loan supervision,and the docking of intelligent contracts and cooperation platforms can improve business efficiency.At the same time,the research proposes to further innovate products based on blockchain technology,innovate blockchain receivables financing,blockchain warehouse receipt financing,blockchain order financing,which can change the traditional supply chain financial service mode,broaden the application scenario,truly and effectively solve the pain points of supply chain finance of China Zheshang Bank,thus it provides a new innovative path for the development of supply chain finance of China Zheshang Bank.In the end,the article gives corresponding suggestions on the application guarantee of China Zheshang Bank’s blockchain technology,including continuing to strengthen technical innovation and performance improvement,transforming risk management and control mode,improving innovation and system management system,focusing on the coordinated development with emerging technologies,and strengthening the construction of talent team,with a view to promoting the universal application of blockchain technology in the supply chain finance of China Zheshang Bank through effective guarantee,and solving the high efficiency The problem of low-cost financing also helped China Zheshang Bank improve its customer service ability and enterprise value through technological innovation.