recently, several successive supply chain financial risk exposure. all of a sudden, people pay special attention to the risk control of supply chain finance. some people believe that block chain technology can solve this problem. however, some people believe that block chain can only solve the problem of information transmission, information source fraud is still unable to solve.
however, the application of blockchain to supply chain finance has been recognized by regulators. not long ago, the china banking regulatory commission (circ) also issued the guidance of the general office of the bank of china insurance regulatory commission on promoting supply chain finance to serve the real economy, requiring supply chain finance to stick to the true background of transactions and strictly guard against false transactions, fictitious financing and illegal profits. it said banks and insurance institutions should be encouraged to embed new technologies such as the internet of things and blockchain in transactions.
so, how is the current development of "blockchain supply chain finance" and what can the blessing of technology bring to supply chain finance?
increase the cost of doing evil
the reporter of "china business journal" understands in the interview, at present the information authenticity of supply chain finance is very difficult to verify. in addition to the fact that the authenticity of trading documents is difficult to tell, sometimes the counterfeiters even rent an office or conference room at the property of the core enterprise to sign the contract in person, so as to gain the trust of the other party.
then, what advantages will blockchain bring in the information authenticity verification of supply chain finance? song wenpeng, general manager of zhongan science and technology beijing branch and senior expert of zhongan science and technology, told reporters that the trading platform of blockchain supply chain finance will digitize the assets under the chain to confirm the right in the blockchain. after the chain, the asset side and capital side can conduct business with low friction.
"blockchain, as a technical means, cannot be solved when it comes to the counterfeiting of assets in the digitization process under the chain." "but with blockchain, the cost of counterfeiting can be increased." take the block chain supply chain trading platform of zhongan technology as an example, there are three processes in the trading process, namely, pre-certification, in-process review and post-audit.
among them, the prior authentication uses the alliance chain, has the strict kyc, kyb mechanism; in-process reviews use a voucher check for each transaction; after the audit, through the accumulation of data on the chain, accumulated credit utility is formed. that is to say, once the fraud occurs, other subjects in the chain can know about it.
at the same time, in this process, in addition to institutions, capital parties, such as third-party financial management, can also use the titanium contract products of zhongan technology to confirm the right of block chain data. in addition, zhongan technology has opened up ca, notary office and electronic authentication center and other institutions. after data right confirmation, zhongan technology also provides legal document protection of professional institutions.
regarding the block chain can not completely solve the problem of counterfeiting, the head of the supply chain financial department of a retail commercial group holds a similar view, he thinks that the core enterprise is very important for the control of the supply chain.
to be specific, blockchain ultimately serves the scene, and each participant of the scene, that is, each body on the chain, can't transfer data without a long-term leader according to the rules. core enterprises can actually lead the transaction or participate in the supply chain in depth, so they have stronger control over the authenticity of data. "so what we're dealing with in the supply chain right now is groups or partnerships." the official said.
in terms of right confirmation, the person in charge told reporters: "currently, the company's block chain supply chain is not external right confirmation, members must be recognized to enter the alliance chain, and then the group after the right confirmation to provide financial services, or push to the cooperation of the bank.
in particular, data is a very core presence in the blockchain, so it is not open to outside parties. the official added: "that is to say, if there is a third party holding our group's related bank receipt certificate, it is likely to be fraudulent."
the reporter also learned that zhongan technology and medical chain technology and other enterprises have a joint block chain supply chain platform. about the reasons behind this, song wenpeng told reporters, supply chain finance is a typical multi-party cooperation scenario, the best application of blockchain scenario, is also multi-party participation, cross-industry cooperation. as the so-called technical expertise, zhongan technology is more of a technical service provider, providing partners in different industries with commercialized and verified blockchain technology solutions.
flow is accelerated and split
in addition to the increase in the cost of evil, blockchain can also accelerate the flow of credit and expand the scope of radiation.
specifically, song wenpeng in the factoring business of supply chain finance, for example, "the money is for core enterprise credit, often core enterprise after radiation to their suppliers, due to the credit approval risk control cost, credit flow problem such as low efficiency, high level 2 to level n suppliers often difficult to obtain credit, it contributed to the most factoring can radiation to the tier one suppliers". however, after the application of blockchain, credit certificates of digital assets will be formed, which are mostly issued by core enterprises to facilitate the transfer of credit across levels.
in addition to the improvement of circulation efficiency, the person in charge said that blockchain can also split the value of vouchers. taking commercial tickets as an example, the original invoice issued in the ticketing system was based on the ticket law, and the original amount could not be changed in the process of circulation. however, issuing vouchers in blockchain is based on property law and the amount can be split. for example, the certificate of 1 million yuan can be divided into 200,000 yuan and 800,000 yuan, which can also radiate to more levels of suppliers.
however, although blockchain's blessing on supply chain finance has significantly changed the industry, in fact, the "blockchain supply chain" model has a very long-term development path in china. there are still constraints on development.
in this regard, song wenpeng said, first, the current business encountered more is a single capital side and a single asset side, and blockchain is more suitable for the "n to n" scenario, which is also one of the development direction of zhongan technology blockchain supply chain financial platform; secondly, due to the addition of block chain, the existing cooperation relationship in the industry has been changed, which also changes the pattern of interests. therefore, it is necessary to have an open mind in the industry. in addition, the understanding and cognition of blockchain by all parties are in the initial stage, and the understanding of what problems blockchain technology can solve is still different.
the person in charge said, first, the current laws and regulations on the block chain is not perfect; secondly, what kind of effect blockchain technology can produce in supply chain finance remains to be explored by the industry; more importantly, supply chain finance itself needs to be improved. at present, the market does not have a deep understanding of supply chain, but focuses on the core enterprises to see how their upstream and downstream businesses do business, so the products are very single.
at the same time, the application of blockchain in the supply chain is more of a small scene. the person in charge further said that if the platform is only connected to one node in the supply chain and cannot get cooperation from the whole supply chain, the core enterprise may not be willing to confirm the right on the chain. take accounts receivable as an example. for the supplier and the core enterprise, it is the business terms between them. in case of financial shortage, both parties will postpone the payment date to reach an agreement. once the right is confirmed in the chain, there will be responsibilities and obligations, and the cost of default will be higher. therefore, the future development of blockchain supply chain finance cannot be limited to a single customer, but relies on the whole big scene, the whole scene together.
source: china business news