Abstract
Blockchain provides a secure and reliable guarantee for information transaction. The trading partners share information and benefits, as well as take risks together, which prompts the integration with blockchain. However, the establishment of trust could be the biggest challenge in this integration. In this article, a solution to address the challenge by building a supply chain financial service system based on the league blockchain is proposed. When small and medium-sized enterprises (SMEs) have financing needs, they can get a loan through blockchain system effectively. In the supply chain, with the help of consensus mechanism and encryption technology, the system provides enterprises, banks and regulators with more convenient financing audit and supervision methods, which improves the financing speed of non-core enterprises. At the same time, the system makes the financing process transparent, safe and traceable. On the one hand, this system changes the way information is stored from SMEs’ respective systems to the blockchain. On the other hand, regulators can supervise SMEs’ actual use of loan funds effectively. This, to some extent, has greatly solved the financing difficulties of SMEs.
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Acknowledgments
This research is supported by the National Natural Science Fund of China (Project No. 71871090) and National Natural Science Fund of China for Emergency Management Project (Project No. 71850012).
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Zou, L., Jia, S., Lan, Q., Zhou, Z. (2020). Research on Blockchain-Based Commercial Paper Financing in Supply Chain. In: Xhafa, F., Patnaik, S., Tavana, M. (eds) Advances in Intelligent Systems and Interactive Applications. IISA 2019. Advances in Intelligent Systems and Computing, vol 1084. Springer, Cham. https://doi.org/10.1007/978-3-030-34387-3_44
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DOI: https://doi.org/10.1007/978-3-030-34387-3_44
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