联盟链型供应链金融系统的构建、机制和应用

Construction, Mechanism and Application of Supply Chain Finance System Based on Consortium Blockchain

供应链金融有利于缓解企业融资瓶颈,但还有许多理论和实践问题亟须解决。以联盟链为底层技术,将企业、银行和政府部门等参与主体连接在一起,构建联盟链型供应链金融系统,并深入讨论联盟链型供应链金融系统的选型依据、网络架构、运行机制和业务应用。研究表明:(1)相对于公有链和私有链而言,联盟链的部分去中心化、共识信任、不可篡改、智能合约和隐私性等优良特性,能够有效满足供应链金融的业务性、安全性和监管性等要求;(2)采用实用性拜占庭容错算法经过“选主、打包、建块和验证”实现一致共识后将数据上链存储于联盟链分布式总账本,是联盟链型供应链金融系统运行机制的关键;(3)通过采用联盟链型供应链金融系统,供应链上中小企业的融资绩效能够显著提高,即获取资金时间缩短、贷款利率降低和贷款规模扩大。研究结果可以为解决供应链上中小企业的融资难融资贵问题提供新路径和新方案,同时为银行和企业等进行联盟链型供应链金融系统的开发与应用提供现实指引。

Due to the outbreak of the Covid-19 epidemic around the world in 2020 and the huge impact on the global supply chain,small and medium-size enterprises(SME s)are facing huge pressure to survive,and the financing conditions for SMEs are is particularly difficult.Once the cashflow chain is broken,SMEs may face bankruptcy,thus endangering the survival of large and medium-sized firms,and may even lead to the collapse of the whole supply chain.In the long term,the financing constraints of SMEs have been a problem that has plagued many countries around the world,including developed countries,and have not been effectively solved.Supply chain finance is one of the effective methods to alleviate financing constraints for firms.However,traditional supply chain finance has many shortcomings,such as information asymmetry,transaction forgeries,difficult credit evaluation,low business efficiencies,and inconvenient regulation of collateral.This paper utilizes the excellent characteristics of blockchain to empower traditional supply chain finance,which can effectively resolve the shortcomings of traditional supply chain finance and help alleviate the financing constraints of firms.The research results not only can provide a new way to effectively solve the financing constraints for SMEs,but also can make a positive contribution to the comprehensive development of the digital economy and society.Currently,most literatures mainly discuss the basic characteristics,development models,business optimizations,and evolutionary games of blockchain-based supply chain finance.This paper firstly indicates the reasons for choosing the consortium blockchain and illustrates the network constructions of the supply chain finance system based on consortium blockchain.And then we initially analyze the operating mechanism of the system through adopting PBFT algorithm to achieve consistent consensus.We finally show the application scenarios of accounts receivable financing in our system.The main results we found are as follows.Firstly,because of the outstanding performances of the consortium blockchain,such as partial decentralization,consensus trust,tamper-proof,traceability,smart contract,privacy and security,it is much more suitable for the consortium blockchain rather than a public blockchain or private blockchain to build up the supply chain finance system.Secondly,the existing literatures of blockchain-based supply chain finance are not abundant,and there are very rare researches about its internal logicality and operating mechanisms.Through carrying out the processes of selecting the master node,packaging data,building new blocks and verifying messages,the PBFT algorithm can achieve consistent consensus among all the nodes,which is the essential key to the operating mechanism of the supply chain finance system based on consortium blockchain.Meanwhile,this paper optimize the“requests pool”in the consensus processes and propose the data structures of the consensus algorithm.We hope to provide the theoretical references for the R&D and applications of the blockchain-based supply chain finance system for banks and firms.Thirdly,from the three perspectives of business processes,data adding to blockchain and financing performances,this paper discusses how banks and firms utilize the blockchain-based supply chain system to implement the financing businesses of accounts receivable.Compared with the common trade finance and the traditional supply chain finance,our system could be able to significantly shorten corporate financing time,reduce corporate loan interest rate and expand corporate loan volume.Our research is not only conducive to solving the corporate financing difficulties,especially for small and medium-sized enterprises,but also provides theoretical foundations and practical guidance for firms and banks to exploit and develop the supply chain finance system based on consortium blockchain.