Blockchain empowers the supply chain financial circuit to heat up

In recent years, blockchain empowering the real economy has gradually become an irreversible trend. In the process of continuous development and iteration of technology, a large number of projects have begun to land, and the industry as a whole has begun to heat up. In order to empower the real economy, companies continue to explore, explore, and build a trusted base for blockchain digitalization, and explore the actual landing of “blockchain+” in various fields, especially in the area of ​​blockchain + supply chain finance.

In traditional supply chain finance, there is no digital endorsement of the credit of small, medium and micro enterprises, difficulty in granting credit, difficulty in risk control of financial institutions, difficulty in corporate financing, imperfect management of small and medium enterprises, irregular finance, and difficulty in lending. Enterprises have information islands, and it is difficult to integrate capital flow, information flow, logistics, and business flow, which increases costs and reduces efficiency. The addition of blockchain technology has solved many of the “old problems” in traditional supply chain finance.

At present, my country’s blockchain technology applications and industries have a good foundation for development. The blockchain empowers the real economy mainly in deepening finance, supply chain management, product traceability, data sharing, etc., and the layout of the block with the alliance chain as the focus Chain service platform and application solutions in the fields of financial technology, supply chain management, and government services. In the process of technological development and scene landing, the role of blockchain technology in empowering the real economy has become more prominent.

When supply chain finance is broken: data on the chain, mutual trust and integration

Blockchain technology has begun to be integrated and applied. Blockchain + supply chain finance is developing rapidly. Public data shows that currently 30% of my country’s supply chains are on-chain. It is estimated that 60%—70% of accounts receivable will be accounted for in the next five years. Realize circulation through blockchain. As of 2025, the scale of accounts receivable financing released through blockchain is expected to reach 3.6 trillion yuan.

The shortcomings of traditional supply chain financial services have become more prominent. It is difficult to integrate capital flow, information flow, logistics, and business flow. Small, medium and micro enterprises lack a comprehensive management mechanism, financial statements are not standardized, digitalization is low, corporate credit is low, and corporate credit is granted. Difficulties in bank risk control and business development, leading to difficulties in corporate financing, bank risk control, and government supervision. Small business loans are particularly difficult, and the penetration rate of the supply chain financial market is low. Companies that “need loans” face ” The traditional financial reform is imperative for the issue of “no loans”.

After the industry has explored blockchain + supply chain finance, based on the blockchain, data can be put on the chain to realize the digitization of data between upstream and downstream enterprises in supply chain finance. The blockchain-based block data structure, consensus mechanism, timestamp, and key technologies used by the blockchain can prevent tampering of original data, control the risk of data leakage, and protect privacy and data security in a three-dimensional interactive scene involving multiple parties. The realization of digital mutual trust has increased commercial credit to a certain extent, formed the interconnection between enterprises, and realized cost reduction and efficiency increase. Domestic blockchain + supply chain financial technologies and projects have been widely implemented.

In September 2021, in the 2021 China Highly Relevant Blockchain Authorized Invention Patent Ranking (TOP100), the top three holders are Ant Group, Tencent Technology and Complex Beauty. According to IPRdaily, Ant Group’s patents revolve around data query data storage, privacy protection, security mechanisms, identity verification and signature verification and other technical fields; Tencent technology patents revolve around computer storage media, identity authentication, data processing and data storage and other technical fields; complex U.S. patents are laid out in technical fields such as data synchronization methods, multiple signatures, private information, data query, parachain, and transaction replacement. Ant Group, Tencent Technology, and Complex Mei rely on blockchain technology to enter blockchain + supply chain finance.

AntChain regards the core enterprises in the supply chain and related upstream and downstream enterprises as a whole, relying on the core enterprises, based on real trade, and using self-compensated trade financing to provide upstream and downstream enterprises in the supply chain. Comprehensive financial products and services. According to different financing collaterals, financial institutions divide supply chain finance into accounts receivable, prepaid and inventory financing. The trust transfer of blockchain can well solve the problem of lack of credit for small and medium-sized enterprises under supply chain finance, and pass the idle bank credit lines of high-quality core enterprises to small and medium-sized enterprises, and realize the trust circulation in the entire chain.

Tencent Cloud’s smart supply chain financial service platform integrates big data, cloud computing, artificial intelligence, Internet of Things, blockchain and other financial technology capabilities in pre-loan risk assessment, loan asset review, post-loan operation supervision, etc. In the whole process of the chain business, it can provide factoring financing, multi-level debt transfer, warehouse receipt pledge, and industrial wind Control and other all-round supply chain financial technology and platform-based services to help supply chain financial institutions to achieve effective risk control, efficiency improvement and cost reduction.

Complex Beauty is based on the high cost of public chain access for small, medium and micro enterprises, and the establishment of a parallel chain with the main public chain has realized corporate information disclosure, credit enhancement, and low cost. Complex Beauty is committed to data storage, and the capital end and the public key address of the capital end are bound to the CA and recorded on the blockchain to promote the digitization of assets. Information is encrypted on the chain. For the company’s sensitive information, relevant companies have privacy requirements. Therefore, the anti-counterfeiting traceability system needs to encrypt part of the information. Only the encrypted data is displayed on the main chain, and only on the corresponding parachain can be read after decryption. Source data and display it to authorized users for query. Relying on the blockchain network, all parties involved can complete bill transactions without trust. Smart contracts automatically execute smart transactions and actively settle, which indirectly improves the liquidity of bill transactions, reduces costs and increases efficiency, and empowers SMEs.

The Ant Group’s self-compensated trade financing method provides comprehensive financial products and services to upstream and downstream companies in the supply chain, passing idle outstanding bank credit to small and medium-sized enterprises. Tencent Technology is committed to providing large-scale enterprises with financing services such as pre-loan risk assessment, loan asset review, post-loan operation supervision, etc. Complex beauty relies on the underlying technology of Chain33, the main chain-parallel chain dual-chain model, and realizes the cost of small, medium and micro enterprises on the chain. Low, open information and improve credit. Companies have relied on blockchain technology to put data on the chain to increase the credibility of data. Relying on the blockchain for digital empowerment, whoever can build a deeper digital base from the technical level will be able to stand out on the track.

In the “2.0 era” of supply chain finance, blockchain becomes the biggest winner?

Supply chain finance relies on blockchain technology, and the data collection, collection, and chaining process relies on blockchain technology to be traceable, ensuring the authenticity of data. Blockchain technology is the cornerstone of digital technology and the infrastructure of the entire digital technology. . Blockchain is the foundation of digital commerce. If you want a solid foundation, you must deepen the underlying technology of the blockchain. Just like the complex beauty, build a pluggable Chain33 bottom layer at the application layer, consensus layer, data layer, encryption algorithm, and transaction buffer pool. Technical system.

“Blockchain+” creates a credible digital base. In order to achieve data credibility, high efficiency, and low cost, and to deal with the problem of corporate information islands in supply chain finance, relying on blockchain and data on the chain can make enterprises truly networked, Interconnection, at the same time, the encryption technology of the blockchain can also protect the private data of the enterprise, and realize the intercommunication of information under the premise of authorization. Information disclosure and increased corporate credit have increased the consensus on digital credibility.

Li Bin, COO of Complex Beauty, said that small, medium and micro enterprises choose to disclose information on the chain, relying on blockchain technology to endorse digital trust. Complex Beauty uses consensus algorithms and other digital technologies to solve the problem of mutual trust between enterprises and logistics, information, and financial institutions. The production, circulation and other information of the company are released on the blockchain to open up the digital sources, improve the time required to form credit, enhance commercial credit, and establish a trustworthy bond between enterprises, logistics, users, and financial institutions. Create a trusted digital base. Small and medium-sized enterprises publish asset information on the parachain, similar to a two-layer network, but each piece of data is registered on the chain in real time. Different from Bitcoin ‘s side chain, when using the parachain, every data must be packaged on the main chain first, and the payment must be confirmed first. After the confirmation is correct, the parachain can be executed. The Chain33 public chain system can provide comparisons. Strong credibility guarantee. Digital mutual trust can be achieved through high-speed networks, which has high efficiency and low cost inclusiveness.

Data security is one of the important features of blockchain. In blockchain technology, digital encryption technology is the key. Using digital encryption and time axis, it can realize the disclosure of information of small, medium and micro enterprises, and also enable company secrets to be encrypted on the chain. Encryption technology Generally, asymmetric encryption algorithms are used to enhance data security.

Not only that, the application of blockchain technology in supply chain finance is conducive to promoting the integration of information flow, capital flow, logistics, and business flow. In this regard, Li Bin explained that the previous logistics, commerce, information and capital Each system is independent. To get through the four sets of system data, we must first get through two by two, and the amount of development is too large. However, relying on blockchain technology to build a chain, the four parties share relevant data on the public ledger on the blockchain through the interface, so that the data can be checked on the data chain. Everyone only needs to connect once to query on the chain in real time. , Consensus reached, credit unity.

The smart contract on the blockchain can promote the automatic completion of transactions, improve efficiency, and the four-in-one model reduces redundant transaction links, achieves a cost-reduction and efficiency-increasing operation mode, and realizes efficient management of supply chain finance. +The deep integration of the supply chain, supply chain finance has officially entered the 2.0 era.

Blockchain applications sink, supply chain trust rises

There are new answers to the data management and digital mutual trust problems of supply chain finance. Based on the digital trusted base of the blockchain, supply chain finance and even supply chain management have moved from an extensive and disorderly primitive ecology to the digital 2.0 era.

The digital transformation of the industry is ushering in new opportunities. The focus of digital transformation is on data on the chain, which can be traced to the source; ensure data security, adopt distributed accounting methods; improve technical service levels, lower barriers to entry, blockchain technology and supply chain Financial integration, blockchain applications sink to supply chain finance, supply chain finance relies on blockchain to build digital credibility, and credit rises.

The goal of the innovation iteration of blockchain technology lies in cost reduction and efficiency enhancement, low cost and low threshold access, and simplicity and practicality. For example, Complex Beauty builds a digital credibility foundation through Chain33, main chain-parachain and other technologies and the BAAS service platform, and builds application scenarios on a credible digital base. In order to lower the barrier to use Chain33, Complex Beauty is committed to the application of BAAS service platform construction. After logging in to their own back-end, users can create main chains, parachains, node monitoring, increase and decrease data, and full browser data for on-chain data. Inquiry, application and contract management. Using Chain33 plug-in consensus base, it can be customized according to the requirements of the enterprise. Complicated and beautiful technologies are low-cost and low-threshold access, which has broader business prospects and is easier to land in various scenarios.

Complex Mei is responsible for building the Zhongying Shujin AI gas station platform based on the blockchain. The Zhongying Shujin AI gas station platform is based on the “blockchain + supply chain” platform as the hub linking gas stations, gas suppliers, and logistics. The key data of the supply chain is put on the chain to realize the integration of four streams and provide efficient and high-quality comprehensive supply chain services for the oil products industry. And with the real order data on the chain, build a corporate big data credit profile, re-encrypt the agent, protect the privacy of alliance chain data, and introduce banks to provide financial services to private gas stations on the platform to relieve the pressure on gas stations’ funds and improve their operations. Ability, management ability and market competitiveness.

At present, the AI ​​gas station platform has completed the blockchain supply chain traceability and supply chain financial service functions. The software construction is mainly based on the PC terminal + APP application tools. It is expected that 141 gas stations across the country will be introduced to complete the chain service financial services. Dozens of gas stations completed the entire process of docking.

At present, the application of blockchain in the supply chain finance field is mainly focused on the identification and traceability of rights. Li Bin said that in supply chain finance, digitization represents accounts receivable, and the corresponding amount is issued in the form of digital tokens on the blockchain. , Token represents the corresponding bill of accounts receivable. After having digital assets, using smart contracts to complete automatic transactions and lending, there will be relatively more deposit certificates and asset digitization in application scenarios. At present, 90% of the blockchain applications on the market are used for data storage, and the data is stored on the chain. Faced with the phenomenon that data is stored in a centralized database, the first step for Complex Beauty is to put the centralized database data on the distributed blockchain. If some assets are generated in the middle, Complex Beauty can carry out assets on the chain. Mapping issuance, realizing asset digitization, and each fund circulation leaves a mark on the chain. On the basis of retaining the original system, new technologies are used to realize the application of new scenarios.

Complex Beauty does anti-counterfeiting traceability in the industry, manufacturing, food industry, agricultural product industry, and art industry. It has launched an on-chain check and is committed to data storage, query and verification. Blockchain confirmation and traceability are conducive to realizing information quantification and improving information processing efficiency. Complex Beauty also applies the blockchain layout to the Internet e-commerce platform to ensure that the logistics information and product information of the goods are true and effective. Blockchain technology can be used to trace the source when disputes arise. The traceability of the right is conducive to the realization of the digitalization of assets and the convenience of business operations. manage.

Li Bin said that data storage, asset digitization, and smart contracts are currently the three main entry points for blockchain reform and application. We will also launch some corresponding products in the future. The future development direction of the industry is focused on blockchain applications. It should play a greater role in the traceability of rights, the digitization of assets, and the evolution of smart contracts.

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