Author(s)

Zhang Xinke ¹

Affiliation(s)

¹ School of Economics and Management, Guangxi Normal University, Guilin, China

Corresponding Author

ABSTRACT

Since the 2020, the financing environment for small and medium-sized enterprises (SMEs) has become even more severe, and the lack of financial support has made it difficult for them to make progress in future development.In such a macro environment, it is particularly urgent to help small and micro enterprises get out of financing difficulties. However, due to many drawbacks in the traditional supply chain financing model, such as information sharing, high financing costs for end enterprises, frequent default events, and low payment efficiency, it is no longer sufficient to meet the strong financing needs of numerous small and micro enterprises in the supply chain. The emergence of blockchain technology has provided a new approach to traditional supply chain finance. The automated processing mechanism brought by its smart contract, the consistency mechanism provided by the distributed bookkeeping, as well as the characteristics of non-tampering and traceability can well solve the traditional supply chain finance problems. In this case, through blockchain technology, efficient financing services can be provided to SMEs, and the financing cost of SMEs can also be reduced.

KEYWORDS

CITE THIS PAPER

Zhang Xinke, Progress in research on supply chain finance based on blockchain technology. Financial Engineering and Risk Management (2023) Vol. 6: 102-108. DOI: http://dx.doi.org/10.23977/ferm.2023.061114.

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