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New technology could crack supply-chain finance

With the integrated development of digital economy and real economy, the coordination mode of traditional supply chain finance relying on a single core organization is increasingly unable to meet the needs of diversified development.

On March 27, huobi China announced the launch of "blockchain + supply chain finance" industrial solution to promote the combination of blockchain and supply chain finance and further solve the supply chain finance problems.

Fan jin of huoyuan China industry enabling center said that "blockchain + supply chain finance" will better solve the problem of difficult and expensive financing for small and medium-sized enterprises, improve the credit of upstream and downstream enterprises, and promote the construction of credible industry ecology.

According to fan, the rapid development of blockchain, big data, artificial intelligence and other new technologies has changed the traditional production and consumption patterns, and "blockchain +" has become an important cornerstone of "new economy" and "new infrastructure" while promoting the upgrading and acceleration of new infrastructure. However, supply chain finance relies on the supply chain to carry out financial business, which is essentially a financial business and needs to solve the problem of financial risk control. Fan jin said that by virtue of the three natural advantages of blockchain technology, it can be well combined and applied in the field of supply chain finance.

Firstly, the information infrastructure provided by blockchain can become an important infrastructure of new supply chain finance. For example, the consensus algorithm can update the data in real time to ensure that the data cannot be tampered with, eliminate the concern of financial institutions about the information flow of enterprises, and solve the problem that smes cannot self-verify their credit level to some extent.

Secondly, the trust system and multi-agent governance mechanism provided by blockchain can serve the coordination of multi-agent in supply chain finance, thus establishing a new networked governance ecology for supply chain finance.

Finally, supply chain finance has a high degree of fit for cutting-edge technologies, and block chain technology can be quickly applied in supply chain finance scenarios by virtue of its strong integration degree.

It is reported that the industry application of "blockchain + supply chain finance" launched this time will be well applied in the five scenarios of commodity whole life cycle tracking, contract signing and depositing, bill circulation, debt confirmation and supply chain financing.

Under the tide of global digital economy development, supply chain finance has entered the stage of platform-based development and will be further advanced to intelligentization in the future from a comprehensive perspective of development history, policy environment, market status and other factors. Internet information technology, biometrics technology and big data modeling all provide technical preparation and support for supply chain financial innovation with blockchain as the core. On this basis, blockchain distributed ledger technology, encrypted ledger technology, intelligent contract technology, etc. provide new solutions to solve the problems in supply chain finance.

Source: China economic news