33FuZaMei (A domestic famous blockchain company) has been awarded "the blockchain best industry application" with its solid technical advantages and many cases of the world 500. Sijin Wu, the CEO of 33FuZaMei, as a special guest at the conference, published a speech "application of blockchain in the supply chain finance field".
Traditional supply chain finance is a centralized. Financial institutions and factoring companies relying on a core enterprise to provide services to about 80% of small and medium-sized enterprises in the supply chain. However, the information such as logistics information, transaction information, financial information, flow information scattered reserves their own. The information is opaque, and financial institutions and factoring companies can't fully understand the enterprise credit, so they may be unwilling to lend to small and medium-sized enterprises.
Blockchain technology is popular because it has a lot of advantages, such as distributed high redundancy storage, timing data, can't tamper with and decentralized credit. Blockchain technology is mainly applied to data encryption, data storage, transaction verification and anti-counterfeiting traceability, which can effectively help supply chain finance. Each node in the block participates in the consensus, and each transaction in the block can be traced with merkle tree. Blockchain technology can reduce the cost of credit, reduce the communication time and speed up the flow of capital and goods. At the same time, the information of e-note, contract, trading and other business private data can be stored in the blockchain, which helps small and medium-sized enterprises cumulative credit to get low cost financing.
Sijin Wu said that the number of small and medium-sized enterprises in China is large, and the amount of financing is huge. The annual cumulative buying amount of commercial bills of exchange is about 100 trillion yuan. Therefore, supply chain finance extensible application scenario is broad. In the future, It is possible for 33FuZaMei to store offline notes, scattered notes, enterprise IOUs, etc. on the blockchain, which convenient for Banks, factoring institutions and investors to trade and to invest.
Gossip: blockchain is one of the country's most supported emerging industries this year. If blockchain can really implement in the field of supply chain finance application, this would solve the number of small and medium-sized enterprise financing difficulties. Do you have any comment for blockchain and supply chain finance, please leave a message below to discuss!
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