Research On Supply Chain Finance Based On Block Chain

With the development of market economy,the development of enterprise organization is becoming more and more perfect.Market competition not only occurs among enterprises,but also among supply chains,which gradually becomes the key for enterprises to stand out.Within the supply chain,upstream and downstream enterprises gather and support each other because of the needs of core enterprises,which is conducive to improving the integration and utilization of limited resources,reducing the operating costs of enterprises fighting alone,and thus enhancing the overall competitiveness of the industry.The essence of supply chain finance is to endorse the credit of the core enterprises in the supply chain and make up for the lack of credit of the small and medium-sized enterprises with the credit advantages of the core enterprises,so as to solve the plight of capital demand for the small and medium-sized enterprises in the supply chain.However,in the traditional supply chain financial model,credit endorsement and mortgage guarantee are the main risk aversion strategies.Because of the information asymmetry,the transaction information in the supply chain can not be truly reflected.Especially when there are transaction disputes,it is difficult to obtain information in the process of evidence tracing,even more.The phenomenon that information may be maliciously tampered with may lead to the increase of supply chain financing risk and the decrease of financing efficiency.Block chain technology is a distributed accounting and data storage technology,which has obvious advantages such as decentralization,de-credit,traceability and so on.In recent years,whether in developed or emerging markets,the concept of "block chain plus finance" has been deeply rooted in people’s hearts.From the perspective of credit transaction between upstream and downstream supply chains,this paper deeply analyses the credit financing behavior of enterprises and its economic consequences,and explores the management mode of financing credit system under the background of supply chain competition.Sharing mechanism of supply chain finance has potential risks that can not be ignored.Introducing block chain technology into supply chain finance is an upgrade of the whole chain security.The chain structure adopted by block chain technology can complete the transaction records in the supply chain.Once increased,it can not be eliminated or changed.This can effectively enhance credit in the financial system,which naturally matches the continuous operation of supply chain finance depending on transaction self-compensation.Based on the theory of information economics and transaction cost,this paper constructs a logical analysis framework for applying block chain technology to supply chain finance.It holds that under the traditional supply chain finance mode,credit endorsement and mortgage guarantee are the main risk aversion strategies,information asymmetry and information acquisition cost exist.High-level problems,the information data of transactions in the supply chain can not be fully reflected.Because of its characteristics of decentralization,de-credit and traceability,block chain technology can achieve better governance effect under the situation that traditional supply chain finance lacks effective control means and may produce higher risk of default after the event.Therefore,this paper takes the supply chain finance of vehicle manufacturing as the case study material,designs a feasible solution of supply chain financial block chain,and tries to construct a block chain operation platform system of supply chain finance of vehicle manufacturing,which provides a region-based solution to the problem of traditional supply chain financial information acquisition and supervision.The solution of block chain technology has formed a beneficial exploration for SMEs to eliminate financing obstacles.