A Case Study On The Model Innovation Of Bulk Commodities Supply Chain Finance Empowered By Blockchain

Financing has always been a difficult problem for SMEs.The financing dilemma is particularly prominent in the bulk commodity industry,which has a long industrial chain,complex transaction links,large transaction amount and large price fluctuation.Supply chain finance is an effective way to solve the financing dilemma of SMEs,but there are still many pain points.The application of blockchain can promote the innovation of supply chain finance.Therefore,this paper selects Tongbao platform as the research object for case analysis,which is a typical application of blockchain in the field of bulk commodity supply chain finance led by China Baowu Steel Group.This paper aims to explore the mechanism and value of blockchain application in bulk commodity supply chain finance,so as to provide practical support for theoretical research in related fields,and provide reference for the further promotion and application of blockchain.This paper analyzes the pain points of traditional supply chain finance in China,and introduces the basic principle,technical characteristics and mechanism of block chain.Based on the above,this paper introduces and analyzes the blockchainempowered supply chain finance model of Tongbao platform.As a blockchain-based supply chain financial service platform,Tongbao platform has realized timely data sharing,on-chain documents,electronic and separable accounts receivable,in-process supervision,and automatic payment with blockchain.They solve the pain points of traditional supply chain finance,and realize the mode innovation of bulk commodity supply chain finance.Except the professional advantage of core enterprises and the code advantage of accounts receivable financing,Tongbao platform also has advantages in cost and efficiency brought by blockchain compared to traditional supply chain finance.Therefore,Tongbao platform is valuable to different entities in the supply chain.With the continuous expansion of business scale and scope,Tongbao platform has made achievements in solving financing difficulties of SMEs,risk control difficulties of financial institutions,and supervision difficulties of regulatory authorities.Besides,the further promotion and application of Tongbao platform is feasible.Finally,this paper analyzes the current challenges of blockchain application in supply chain finance,and puts forward some development suggestions,including make top-level design,formulate a standard system,strengthen technological innovation,and establish industrial alliances.