In the past year, the blockchain has been pervasive and has penetrated into the business scenarios of various industries.
The trillion-level supply chain finance, because of the mistrust between the participating entities, as well as the difficulty of circulation of commercial and silver tickets, makes blockchain practitioners seem to find the best application scenario.
The 2018 China Supply Chain Financial Industry Research Report published by iResearch shows that in 2018, China's supply chain financial market is expected to reach 2 trillion.
Whether it is a bank or financial institution, an Internet giant, or a leader in traditional manufacturing, or a variety of startups, they have chosen supply chain finance as an entry point for blockchain technology.
A mighty technological revolution, as if to break out in the trillion market.
Blue Ocean Market
Supply Chain Finance, what is it?
From the perspective of capital supply, supply chain finance means that banks connect core enterprises with upstream and downstream enterprises, provide a flexible use of financial products and services, and use funds as a solvent for the supply chain.
For example, Enterprise A produces clothing. After receiving the order from Enterprise B, it finds that it is not enough money to purchase raw materials. Therefore, it takes the contract and the order certificate to find the bank C loan. Bank C is based on the authenticity of the order and the enterprise. In the case of credit information, the loan will be released. After the company A receives the remaining amount from the company B, it will return the principal and interest to the bank C.
is easy to say, but it is difficult to move in the actual application process.
The mistrust between the participating entities, the difficulty in circulation of commercial and silver tickets, has become the shackles of Achilles that restrict the development of supply chain finance.
Therefore, this gave birth to the “blockchain+supply chain finance” model, which also gave blockchain practitioners an excellent opportunity to cut into the supply chain finance industry.
Under the traditional system, "trade" and "financing" are two separate links. After enterprise A and enterprise B complete the trade, A holds the trade information to find bank C financing, and bank C is worried about enterprise A. mentionWhether the information provided is true or not, it takes a lot of money to verify.
If you use blockchain technology, you only need to upload the information of Enterprise A, Enterprise B, and Bank C to the alliance chain. When Enterprise A and Enterprise B do trade, Bank C can “testify”. . In this way, Enterprise A holds the trade information to find bank C financing, and Bank C can check the authenticity from the data witnessed by the local.
"We encountered this problem when we cooperated with Pangang. Panzhihua and Huaxia Bank will not use each other's system, only the information of both parties will be on a credible system. "The link to the two sides," said Wang Biao, CTO of the Bubi blockchain. "So we put the information of both parties on the alliance chain, and both parties can verify the authenticity of the data at any time. Now Panzhihua passes the financial policy every month. There are more than 100 million commercial tickets on the platform."
In a sense, blockchain technology has helped solve the pain points of supply chain finance.
At present, “blockchain+supply chain finance” mainly has three major factions:
The first type, the banking system, is a platform developed and used by banks, such as the financial group of Ping An Group. The “Qianqi Chain” intelligent supply chain financial platform released by the account, the “E-mail chain – coordinating and transferring financing” launched by CITIC Bank.
The second type, the giant head, mainly has the ant block chain of Ant Financial, the degree of financial, Tencent blockchain, TCL, Foxconn and so on.
The third type, startup companies, such as Connaught Financial, Win-Win Chain, Interest Chain, 33 Complex Beauty, etc.
At the end of 2018, after a round of blockchain bubble, the model of “blockchain+supply chain finance” not only did not cool down, but also had a spark of fire.
For a time, this model was considered by experts and scholars to be the most practical application scenario of blockchain technology, and the prospect seemed bright.