White paper on Supply Chain Finance Based on blockchain technology in 2020 From Zheshang Bank

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The following is the White paper on Supply Chain Finance Based on blockchain technology in 2020 From Zheshang Bank recommended by recordtrend.com. And this article belongs to the classification: Blockchain, research report.

This is the first white paper on blockchain supply chain finance in the banking industry, focusing on the innovative application of blockchain technology in supply chain finance business, combing the innovative practice cases of banking industry using blockchain technology in the application scenarios of supply chain finance business, and further putting forward the business standards and application standards of blockchain Technology in supply chain finance, providing reference for the follow-up industry The application and research of technology, as well as the landing in the field of supply chain finance provide a reference.

In the field of supply chain finance, blockchain technology has great application potential

At present, blockchain is becoming the forefront of global technology application, and its application has extended to many fields, such as digital finance, Internet of things, intelligent manufacturing, supply chain management, digital asset trading and so on. It constantly promotes global technology innovation and mode innovation, and promotes the transition of information internet to value Internet. Among them, financial institutions have been in the forefront of blockchain technology application.

In the white paper, typical cases such as ICBC’s block chain platform for acquisition and demolition fund management, China Merchants Bank’s industrial Internet cooperation platform, and financial one account cross-border trade service network are listed, mainly in the fields of fund management and cross-border trade.

The field of supply chain finance has created a huge space for the application of blockchain technology. It is highly compatible with the business characteristics of multi-party participation, can solve the problem of “deposit” and “certificate” of information in supply chain finance, and can efficiently integrate real logistics, data flow, information flow and capital flow. It has great application value and potential.

At present, many enterprises use credit settlement, a large number of accounts receivable between the upstream and downstream lie on the account, it is difficult to flow, the financial demand of enterprises to revitalize accounts receivable is huge. The traditional supply chain financial services use accounts receivable factoring, pledge and other financing methods, facing the problems of information asymmetry, credit multi-layer difficult to penetrate, offline operation cumbersome and so on. Blockchain technology uses the technical characteristics of decentralization, non tampering and high security, which can realize the assets on the chain, decentralized share registration, intelligent management of business rules, etc., truly break through the information barriers between core enterprises, small and medium-sized enterprises and banks, and solve the problems of confirming the right of accounts receivable, material management, narrow scope of financing subjects and flow of financing tools under the traditional mode Turn difficult and other pain points, resolve the difficulty of enterprise financing, financing expensive.

For example, the receivables chain platform of Zheshang Bank can transform the precipitated receivables in the enterprise supply chain into an efficient and safe online “blockchain receivables” to revitalize. Through it, blockchain receivables issued by core enterprises can be transferred in the supply chain business circle, realizing “no capital” transactions in the circle, so as to reduce external capital demand and build a more healthy supply chain ecology. Small and medium-sized enterprises receive “blockchain receivables”, which can not only be used for external payment, but also be transferred to banks for financing realization at any time.

Seven application scenarios constitute a complete puzzle of supply chain financial services

The chapter of “blockchain supply chain financial solutions” in the white paper analyzes in detail the difficulties in the process of developing supply chain financial business, such as the difficulty in confirming the right of accounts receivable, the difficulty in pledge management, the narrow scope of financing subjects, the difficulty in the circulation of financing tools, etc.; the right remedy is to get through the core enterprises by means of asset “on the chain”, decentralized share registration, and intelligent management of business rules The information barrier between the industry, small and medium-sized enterprises and banks solves the problem of the traditional supply chain financial model.

On the basis of a detailed explanation of the AR chain platform to revitalize the circulation of upstream and downstream AR in the supply chain, the white paper focuses on the innovative practice cases of blockchain technology in seven application scenarios of AR financing, order financing, inventory financing and equipment leasing in the supply chain financial business.

For example, the transparency of warehouse receipts and the efficiency of warehouse receipt financing can be improved. In 2018, Zheshang Bank built the first oil products trading blockchain warehouse receipt communication platform for Zhejiang Petrochemical Trading Center, using blockchain technology to record the nodes and status of warehouse receipt issuance, transfer, payment, financing, delivery, etc., and docking with Zheshou center platform and warehouse supervisor respectively, so as to realize the full life cycle control of warehouse receipt issuance on the platform. The scheme improves the enterprise value of warehouse supervision, activates the inventory of inventory holder, and expands the market sales scale.

Another example is that the core enterprises and downstream dealers adopt cash and cash or short-term credit settlement methods when selling, and the blockchain technology is loaded into the distribution scene, which can meet the financing needs of small and medium-sized dealers with “small amount, high frequency and short-term”, and help the core enterprises expand sales. In the pharmaceutical circulation industry, Zheshang Bank has built a distribution platform for Ruikang pharmaceutical based on the blockchain technology. Through the closed management and intelligent risk control of its sales receipts, it has realized the full line financing of downstream dealers, and then provided a package of comprehensive financial services such as financing, settlement, capital management and so on.

In recent years, Zheshang Bank, together with Zhejiang University, fun chain technology and Zhijiang laboratory, has carried out a series of cooperative explorations in the application field of blockchain technology, strengthened joint tackling of key technologies, theoretical research and technical standards, jointly promoted the innovation and transformation of financial technology, and successively launched the receivables chain platform, bank rent linkage, bank rent linkage platform, etc In addition, it has effectively exported technical products and financial technology services to leading enterprises in electric power, medicine, grain and other industries.

“These scenario based solutions around specific production and operation scenarios, which give full play to the role of blockchain in promoting data sharing, optimizing business processes, reducing operating costs, improving collaborative efficiency, and building a trusted system, will constitute a complete jigsaw puzzle of supply chain financial service products and better serve the real economy.” According to the white paper.

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