Research On The Application Of Digital Bills In Supply Chain

Digital notes are a new form of notes made by combining blockchain technology with notes,which can significantly improve the security of notes and the efficiency of note transactions by embedding blockchain technology into note transactions.Since the rise of blockchain technology in China in 2016,supported by its many excellent features such as non-tamper ability,smart contracts,consensus mechanism and asymmetric encryption,blockchain has been widely used in many industries,and the note market has also applied blockchain technology to note transactions,and digital notes have thus been officially introduced.Blockchain’s distributed bookkeeping,automatically executable smart contracts and public and private keys are perfectly suited for commercial bills of exchange.In the context of high enterprise accounts receivable and the continuous development of supply chain finance,building a digital bill platform based on the industrial chain and digitizing enterprise accounts receivable so that they can be circulated and traded within the platform has a positive effect on alleviating the problem of financing difficulties of SMEs.In the analysis of this thesis,literature analysis,case study and comparative analysis are mainly applied to study the application of digital bills in supply chain finance based on the "self-financing" model of Qing Jian Group,and propose targeted countermeasures on this basis.In the research of this thesis,we firstly summarize the relevant literature on blockchain and digital notes at home and abroad,analyze the current development status of blockchain technology and the theory of applying blockchain technology in the field of notes,and determine the research idea of this thesis with the current development status of the notes market.The application of blockchain in the field of bills,relying on the supply chain to develop a digital bill platform and create "double-chain finance",can provide enterprises with more secure and efficient financial support services.Relying on its status as a core enterprise,Qing Jian Group has established a digital notes platform based on blockchain technology to digitally upload the accounts receivable in the industrial chain to the chain,so as to fully revitalize the accounts receivable which were originally illiquid.The digitalized accounts receivable can be transferred,split and collateralized within the platform,providing convenient financing support for many enterprises in the supply chain.This thesis takes Qing Jian Group’s "self-financing" model as an example,and firstly introduces the business model of "self-financing",then analyzes the mechanism of its success from the aspects of group financial analysis,competitive advantages and product benefits of the platform,and then analyzes the problems and shortcomings of the current platform.The thesis then analyzes the problems and shortcomings of the current platform,from which three conclusions are drawn:firstly,the excellent finance of Qing Jian Group and the benefits and advantages of the platform are the keys to its success;secondly,digital notes can fit well with supply chain finance and achieve the improvement of the overall efficiency of the supply chain;thirdly,the application of digital notes has not yet been fully spread,and the functions of the current digital notes platform on the market are still relatively single,only converting accounts receivable into accounts receivable that can be used on the platform.Third,the application of digital bills has not yet been fully spread,and the current digital bill platform in the market has a single function,which only transforms accounts receivable into digital bills that can be transferred within the platform,and there are few applications in other scenarios,so digital bills still have a long way to go.Finally,we will give recommendations based on the analysis of this thesis.For Qing Jian Group,firstly,it should be based on the market,strengthen innovation and actively develop the platform business;secondly,it should establish the awareness of risk prevention and build the risk response capability;finally,it should reserve specialized talents.For the government to improve the relevant laws and regulations to guide the standard development of the industry,but also to introduce corresponding incentive policies to stimulate industrial development.In the future,with the continuous development of the digital bill platform,the financing difficulties of SMEs will be effectively alleviated,thus injecting a new powerful impetus for the development of China’s economy.