Recently, the "Finals of the First Yangtze River Delta Fintech Innovation and Application Global Competition and Technology Empowering Mainstream Financial Summit Forum" with the theme of "Innovation, Application, and Empowerment of Financial Technology in a New Era" ended successfully in Shanghai.
Wanglian Technology has lived up to expectations and passed all the way, winning two major awards, especially the "Annual Financial Technology Most Growth Value Award" for its "Cloud Credit Blockchain Electronic Voucher System" project, which is full of weight and fully witnessed Wanglian. Chain Technology uses blockchain to embrace the value and achievements of financial technology.
In recent years, with the in-depth development of blockchain technology, blockchain-enabled industry applications have gradually become a trend. Especially for the financial field, the innate financial attributes of the blockchain make it show strong innovation power and subversive capabilities in this regard, and become an important infrastructure for improving the service capabilities of financial institutions and supporting the development of the real economy.
Wanglian Technology was born in response to the trend, constantly expanding its territory in the field of "blockchain +", and "blockchain + supply chain finance" is our main direction of attack. The cloud credit blockchain electronic voucher platform is a product representative under this concept. It aims to give full play to the core role of core enterprises in the industrial chain, build a supply chain financial management service platform for enterprises with Internet thinking, and is committed to building core enterprises The industrial Internet innovation financial technology platform jointly developed with small and medium-sized enterprises in the supply chain, banks and other financial institutions, solves the problems of high financial expenses of large enterprises, corporate triangular debts and difficult and expensive financing for small and medium-sized enterprises by mobilizing high-quality credit resources of large enterprises. Promote the quality and efficiency of enterprises in the industrial chain to achieve common development.
The development dilemma of small and medium-sized enterprises
With the attack of the new crown epidemic, the global economy has entered a deep adjustment cycle, economic growth has generally slowed down, and business risks have continued to increase, especially for small and medium-sized enterprises in a disadvantaged position. Reasons such as symmetry lead to difficult, expensive, and slow financing, which has become a normal bottleneck constraint for its development, causing some companies with good development prospects in the industrial chain to miss good opportunities or even die halfway.
As a new force of inclusive finance, supply chain finance, through the "four-in-one" of logistics, capital flow, information flow, and business flow, makes the core enterprises in the supply chain and related upstream and downstream enterprises as a whole, Endorsed by the credit of core enterprises, based on the premise of real trade, and using self-compensating trade financing, it can provide comprehensive financial products and services for small and medium-sized enterprises in the upstream and downstream of the supply chain, which has become the key to solving the financing difficulties of small and medium-sized enterprises.
However, supply chain finance still faces difficulties such as transaction authenticity information asymmetry, trust endorsement, and contract performance, which lead to low production efficiency and high financing costs for enterprises. How to use new technologies to identify the advantages and disadvantages of enterprises in the supply chain and provide precise credit support has become a prominent practical problem.
The emergence of the blockchain, its decentralization, traceability, non-tampering and other characteristics have provided a direction to solve this problem. Using the blockchain to empower supply chain finance and effectively solve the financing difficulties of small and medium-sized enterprises is becoming a reality step by step. .
Blockchain + supply chain finance
Supply chain finance is a typical scenario involving multi-subject participation, information asymmetry, imperfect credit mechanism, and non-standard credit targets. The core of blockchain is distributed accounting, which is characterized by decentralization, non-tampering, and traceability. Blockchain + supply chain finance can be said to be a match made in heaven, which will greatly increase the strength of trust, and form a financial ecological closed loop with superimposed interaction and two-way empowerment around core enterprises, suppliers, dealers and financial institutions, making up for the shortcomings and deficiencies of traditional finance. By providing data services that are more accurate, secure, and in line with industry characteristics and scenario needs, a wonderful and vivid development pattern and growth momentum have been created to achieve a win-win situation and maximize the interests of all parties.
textIn traditional supply chain systems, it is often difficult for information to flow, forming information islands. Under the blockchain architecture, the participants in the supply chain ecology jointly maintain a public ledger according to the agreement, and each transaction is recorded after the consensus of all parties, which improves the transparency of information and the efficiency of use. Banks can sort out the operating conditions of core enterprises and small and medium-sized enterprises based on the book information, so as to more efficiently determine their lending intentions.
textBased on the low trust of traditional information, bank information review often consumes a lot of manpower and material resources. After the blockchain is empowered, the data on the chain cannot be tampered with and can be traced back to the source, so that the core enterprise endorsement utility can be transmitted along the credible financing link, and the secondary endorsement for the credit of small and medium-sized enterprises can solve the difficulty of core enterprise credit. The problem passed to the end of the supply chain has achieved substantial trust circulation, greatly enhanced the trust of the entire supply chain, provided a certain basis for the financing of small and medium-sized enterprises in the supply chain, and achieved the goal of reducing financing costs.
textThe blockchain can accurately record the data of all transactions in the entire supply chain, and has the feature of time stamp. Coupled with the performance form of the smart contract, it ensures that the system can be executed smoothly in the absence of third-party supervision. Block chain technology edits tradable electronic bills, endows them with functions such as transaction, financing and settlement, realizes financial penetrating management and automatic fund allocation, and realizes the goal of one-stop liquidation.
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On October 24, 2019, General Secretary Xi Jinping emphasized during the 18th collective study of the Political Bureau of the CPC Central Committee: to promote the deep integration of blockchain and the real economy, to solve the difficulties of SME loan financing, bank risk control, and departmental supervision And other issues.
Over the past year, blockchain has made rapid progress in enabling industry applications. Blockchain + supply chain finance is the vanguard of empowerment, constantly creating a new financial market with higher trust and closer ties between enterprises.
Blockchain innovative enterprises represented by Wanglian Technology continue to promote the large-scale application of blockchain technology in supply chain finance, provide one-stop solutions with blockchain technology, and build financial institutions and core enterprises in the industrial chain It is a bridge for communication and mutual trust transactions between chain enterprises, suppliers, etc., while releasing the credit of core enterprises, it will continuously reduce the capital settlement costs and financing costs of small and medium-sized enterprises in the industrial chain, enhance their capital and asset liquidity, and promote the entire supply chain. Ecologically healthy development.
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