Steel B2B e-commerce case: how supply chain finance solves the pain point of Supply Chain Finance

Yixin Institute of Technology 2021-05-15 01:27:35 阅读数:203

steel b2b e-commerce commerce case

One 、 What is blockchain

Blockchain is a kind of chained data structure that combines data blocks in a specific order in a chronological order , It stores the records of all transactions since the birth of the system . The data on the blockchain is jointly maintained and stored by the whole network nodes , At the same time, block data can not be tampered and forged by cryptography . So the essence of blockchain is a distributed shared database . Blockchain lets any multiple nodes in the system participate , The associated data block is generated by cryptography method ( Block ,block), Each data block contains all information exchange data of the system in a certain period of time , And combine the data blocks into a chain data structure according to the time sequence .

Blockchain is distributed data storage 、 Point to point transmission 、 Consensus mechanism 、 Encryption algorithm and other computer technology in the Internet era of innovative application mode , It's a way to solve the problem of trust 、 Information technology solutions to reduce the cost of trust . The application of blockchain Technology , Traditional trust agencies can be banned , Subvert the old centralized model that has existed for thousands of years , Without the need for centralized trust mediation , Solve the problem of trust between strangers , Significantly reduce the cost of trust .

Two 、 A term is used to explain

  • Distributed : Compared to centralized , Distributed is one of the typical characteristics of blockchain , The corresponding English is Decentralized, The complete expression is independent of the central server ( colony )、 The pattern of computing with distributed computer resources .
  • Consensus mechanism : Building trust among different nodes in blockchain system 、 A mathematical algorithm for gaining rights .
  • Distributed database : One can be in multiple sites 、 Databases shared in networks of different geographical locations or multiple institutions .

2.1 block + chain = history + verification

Block structure has two very important characteristics :

The block header of each block contains the hash value of the transaction information of the previous block , Therefore, from the genesis block to the current block, a chain has been formed ; Transactions on each block subject after the creation of the previous block 、 All value exchange activities before the creation of the block ; In most cases , New block creation successfully added to the chain , The data record of this block can not be changed or changed .

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2.2 Features of blockchain

  • De centralization

The distributed structure of blockchain makes data not recorded and stored on centralized computers or hosts , But let every node involved in data transaction record and store all data information . So , Blockchain system adopts open source 、 Decentralized protocol to ensure complete recording and storage of data . Blockchain builds a whole set of protocol mechanism , Let every node of the whole network participate in recording data at the same time , Also participate in verifying the correctness of the results recorded by other nodes . Only when most nodes of the whole network ( Even all nodes ) When all the records are confirmed to be correct , This data will be written to the block . In the distributed network system of blockchain , The network nodes participating in the recording will update and store all data in the whole network system in real time . therefore , Even if some nodes are attacked or destroyed , It will not affect the data update and storage of this system .

  • Don't falsify

Blockchain recording principle requires all nodes participating in recording , To jointly verify the correctness of the transaction records . Because all nodes are recording every transaction in the whole network , therefore , Once the information recorded by one node is inconsistent with that of other nodes , Other nodes will not recognize the record , The record will not write to the block .

  • No tampering

It is almost impossible to change the trading information in a certain block . If the block is changed , Then every block after that will be changed . So people who are trying to tamper with data have to invade at least the world's participating records at the same time 51% And tamper with the data . Technically speaking , It's almost impossible .

  • Mathematical encryption

Each transaction requires a valid signature to be stored in the block . Only a valid digital key can generate a valid signature . Keys are paired , It consists of a private key and a public key . among , The public key is public , The private key is only visible and used by the owner , Used to sign transactions , To prove digital identity .

3、 ... and 、 How can blockchain solve the financial pain point of supply chain

Supply chain finance is based on core customers , Based on the real trade background , The use of self compensating trade financing , Register by pledge of receivables 、 Third party supervision and other professional means to close the flow of funds or control property rights , Comprehensive financial products and services provided to upstream and downstream enterprises in the supply chain .

The foundation of Supply Chain Finance , Supply chain again . Supply chain involves information flow 、 Capital flow 、 Logistics and business flow , Nature is a multi-agent 、 Multi collaborative business model . under these circumstances , To finance trade , First of all, there will be a lot of authenticity problems , For example, the authenticity of the transaction , Authenticity of documents , This needs to be confirmed by many parties , Spend a lot of manpower and material resources ; secondly , Multiple subjects involved , There is a problem of interconnection , For example, the supply chain management system used by each entity 、 Enterprise resource management system , Even the financial system is different , It makes docking difficult . Even if it's docked , Because of the data format 、 The data dictionary is not uniform , And it's hard to share information .

There are still some industry pain points in Supply Chain Finance :

  • First of all , As mentioned earlier , There are many information islands in the supply chain , The lack of information exchange between enterprises restricts the verification of many financing information ;
  • second , Core enterprise credit can't be effectively transferred , According to the contract law , The core enterprise is to sign a contract with a first-class supplier , But when the first tier supplier and the second tier supplier sign the contract, there is no core enterprise involved , It can't transfer the credit of related core enterprises to multi-level suppliers ;
  • Third , Banks lack credible data on SMEs . Under the existing bank risk control system , Small and medium-sized enterprises cannot prove the existence of trade relations , It's hard to get bank funds . relatively , The banking industry cannot penetrate into the supply chain to obtain customers and lend money ;
  • Fourth , Financing difficulties 、 Financing is expensive , In the current market background of credit sale mode , Suppliers upstream of the supply chain often have a large funding gap , However, there is no endorsement of core enterprises , It's hard for them to get quality loans from banks ;
  • The fifth , Settlement is not automatic . Now a lot of contract settlement is not automatically completed , When multi-level supplier settlement is involved , There are more uncertainties .

therefore , Supply chain finance needs data penetration and information sharing , Through the flow of money 、 information flow 、 logistics , Business flow and so on merge together , To enhance the authenticity of information 、 Transmission of credit and high efficiency of financing .

Supply chain finance based on blockchain , Through blockchain technology, all related parties are linked into a platform , Data storage of confirming authority through multi party bookkeeping , Realize horizontal data sharing , And then realize the trust transmission of core enterprises . Based on the property law 、 Electronic contract law and electronic signature law , With the help of the credit line of core enterprises , Improve the financing efficiency of SMEs , Reduce the financing cost of small and micro enterprises , Accelerate Inclusive Finance .

What are the advantages of introducing blockchain ?

  • First of all , Solve the problem of information island , Multiple stakeholders can set rules in advance , Speed up data exchange and information sharing ;
  • second , Under the property law 、 Electronic contract law 、 Electronic signature law, etc , The accounts receivable voucher of the core enterprise can be transformed into transferable through the blockchain 、 Certificate of confirmation of financing right , So that the core enterprise credit can pass along the reliable trade link . Based on mutual confirmation of rights , The entire voucher can be derived from a split 、 Tracing and other operations ;
  • Third , Provide credible trade data , For example, provide online basic contracts under the blockchain architecture 、 Documents 、 Payment structure is tight 、 Complete record , Improved information transparency , To achieve penetration of regulation ;
  • Fourth , Reduce capital and increase efficiency . After the transmission of core enterprise credit , SMEs can use the credit line of core enterprises , Reduce financing costs , Improve financing efficiency ;
  • The fifth , Realize contract intelligent clearing . Automatic settlement based on smart contract , Reduce human intervention , Reduce operational risk , To ensure the safety of payment collection .

To make a long story short , From the whole flow of information , From the former information island to the whole chain of information access now , From the traditional core enterprises, only one level suppliers can be covered , To be able to cover multi-level suppliers . Transaction authorization based on encrypted data 、 Proof of authenticity of transactions based on certificates of deposit 、 Trust transfer based on shared ledger and contract execution based on smart contract , Form a closed and controllable collection 、 Through regulation 、 The new ecology of data access in the whole chain , Mainly to help small and medium-sized micro enterprises to solve “ Financing difficulties , Financing is expensive ” The problem of .

Four 、 Blockchain application cases - Buy a steel mesh solution

It's built by Yiqi cloud suit Blockworm Baas(blockchain as a service) platform , It is a cloud platform that provides blockchain services , It can help users quickly build blockchain infrastructure , Link business data . Yiqi cloud service relies on the data on the blockchain , Provide financial services for SMEs upstream and downstream of the supply chain . The platform adopts blockchain multi chain structure ,B2B platform 、 Supplier 、 Purchaser 、 Warehousing organization 、 The logistics organization serves as the data entry node , Flow information in the supply chain 、 commodity circulation 、 Logistics data is stored on the blockchain . First , Blockchain links the information systems of all participants , Provides a trusted collaboration environment , Improve the efficiency of transaction collaboration . secondly , Multiple participants collaborate based on the transaction itself , Together witnessed the process of the transaction , Guarantee the authenticity of the transaction . Last , Financial institutions as credit providers and fund providers , Based on trusted data sources , Using data analysis and other means , Credit for the enterprise , Loan . Simplified the financing process , Improved financing efficiency , Lower the cost of financing . Here's steel B2B E-commerce buys steel in Blockworm The platform uses blockchain to record business data . Each party's transaction starts from the moment the order is generated , Including warehousing 、 The key nodes in the logistics process are all recorded , Data is stored on the transaction chain , The whole deal can be traced back , And cross check according to the information of all parties , Prevent false trading , Guarantee the authenticity of the transaction .

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chart 1. The key nodes of the whole transaction process are recorded on the transaction chain

4.1 Specific process

  • The information about the new order of dada steel network is recorded on the blockchain ;
  • Greatly buy Steel change order status to be delivered ;
  • The third party warehouse finds the order to be delivered in the chain , Carry out outbound operation for the goods , And mark the order status as issued ;
  • The third-party logistics company that undertakes the transportation of goods begins to deliver goods , And update the order status to in transit ;
  • Downstream buyers receive goods , Mark order status as signed in .

Receivables arising from all transactions 、 Bills can be used as financing targets , Register on the asset chain , Form digital assets , This process is called asset digitization , These digital assets are essentially the creditor's rights of enterprises in the supply chain . The asset chain records the financing process of all assets . Part of the process can be performed automatically by the smart contract on the chain , Save labor costs .

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chart 2. The financing chain records the process of financing assets

meanwhile , In the trading chain , Digital assets can be split , As a claim ( Or capital ) Purchase from upstream suppliers , This depends on the credit of core enterprises , It can be transferred to the whole supply chain , Increase credit for SMEs in the supply chain .

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chart 3. Financing assets can be transferred in the chain

Integration map (1) – chart (3), It will eventually evolve into a multi chain model ( chart (4)), First, each transaction chain provides asset authenticity traceability , In the middle is the asset chain , Assets that need to be financed can be registered in the asset chain , Financial institutions are based on the asset chain , Trace the authenticity of assets , Assess the risks , Targeted financial services .

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chart 4. Multi Chain Structure , The trading chain adds credit to the financing assets in the asset chain

author : Yu Mingyang

Yixin Institute of technology

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