On the one hand, it is difficult for small and micro enterprises to borrow from upstream and downstream, and on the other hand, the "radish chapter" incident is constantly exposed, and supply chain financial accidents frequently occur. Faced with the supply chain financial cycle that has caused headaches in the industry, Alipay has used blockchain technology in Chengdu to create the key to breaking the deal.
On July 30, Jiang Guofei, vice president of Ant Financial Services, announced that the supply chain collaboration network based on blockchain technology – ant "double chain communication" has been fully upgraded and opened. This service uses blockchain technology to completely eliminate the "radish chapter, fake contract" problem in the supply chain finance field, which allows small and micro businesses to enjoy efficient and convenient financial services.
With the cooperation with Chengdu Commercial Bank and Chengdu SME Finance Guarantee Company (hereinafter referred to as Chengdu Zhongxiaodu), Double-Link has completed the full-link coverage of supply chain finance. After the chain is opened, the entire financing process is clearly marked. Tampering, all participants through the dual-chain infrastructure for identity verification and willingness to confirm, digital signature real-time uplink, can not be denied, a chain to eliminate the risk of misappropriation.
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In Jiang Guofei's view, this is an important basis for the upgrading and opening of ant blockchain double-chain products. He said that blockchain technology has unique advantages in eliminating fraud, reducing operational risks, and building credible collaboration capabilities for various partners. Organizations and core enterprises can more effectively master and apply these capabilities to carry out existing businesses.
The running of this platform is the result of Chengdu's construction of the western financial center's speeding technology empowerment and innovation. A month ago, Chengdu Smart Banner System provider Zhongke Daqi and its end supplier Guan Yong, Chengdu SME Finance Guarantee Company (hereinafter referred to as Chengdu Zhongxiao), completed the first single financing on the ant double chain.
This is the world's first "small and medium-sized core enterprise blockchain payment guarantee" full chain. The ants double-chain communication relies on the technical qualifications and accounts payable of Zhongke Daqi, and the real trade between the participants in the industry chain as the background, so that the credit of Zhongke Daqi can be transferred step by step on the blockchain.
Zhongke Daqi received the credit from Chengdu Zhongxiao, and also benefited its suppliers. It can be financed by the credit transfer of Zhongke Daqi. Cai Shirong, who runs the “Guanyong Specialty Store” in Chengdu Bainaohui Computer City, became the first beneficiaries. The Guanyong specialty store with a registered capital of only 30 yuan is also the end supplier of Zhongke Daqi. Once the account period is delayed, it will be difficult to live by the funding gap. The loan needs to be mortgaged. Cai Shirong has no assets. Only the upstream customers can owe it. However, a small store like him has a low credit rating and a relatively high operational risk, making it difficult to obtain guarantees and authorizations from financial institutions.
In the past, the phenomenon of “radish seals and fake contracts” formed a strange circle of supply chain finance. Financial institutions such as banks have stopped and refused to lend because of the difficulty in identifying risks. Directly leading to this financing model is difficult to popularize, the data shows that 98.5% of the current supply chain financing needs are not met.
Take Zhongke Daqi as an example. This is a smart system technology enterprise in the scenic area. The annual sales exceed 100 million yuan, and the service covers the Wanjia Scenic Spot Hotel and Wenbo Unit. Its founder, Yang Chen, said: "The company has no equipment and only a thick intellectual property certificate. We rely on technology to survive, but these technologies are not counted as movable property collateral. For more than a decade, every time I went to the bank, I basically closed the door. ”
To make a loan, Zhongke Daqi needs to provide credit enhancement services to Chengdu Zhongxiao, and then apply to the bank. Although the guarantee company will generally charge a certain percentage of the guarantee fee, once the bad debts, the guarantee company will pay 100% of the bank's total losses.
“The number of SMEs we serve is several hundred, and there are more suppliers in the upstream. In the past, due to the low credit rating of small and micro enterprises and relatively high operational risks, traditional supply chain financial services often revolve around large enterprises. "After 20 years since its establishment, Shu Lan, deputy general manager of Chengdu Zhongxiao, said, "With the help of blockchain technology, we hope to provide short-term and pain points for supply chain financing, and more effective in preventing risks. Enterprises provide efficient and convenient financial services."
“Serving small and micro enterprises to achieve inclusive finance is the common goal of ants Jinfu and Zhongxiaodu. Only when they live well, local economy will be better. The achievement of regional benchmarking cooperation reflects Chengdu’s small and medium-sized embrace financial technology. Actively seek the ability and confidence of innovation and development." Ant Financial Service Jiang Guofei said.
"With the help of the ant blockchain, the online merchant bank gives credit support to the core enterprise chain, and works with the same industry to better serve small and micro enterprises, and through the technological innovation to serve the real economy," said Jin Xiaolong, president of the online business bank.
With the ant double-chain communication, the financing model of supply chain finance will be greatly activated, and the credit availability and financing coverage will be greatly improved. There are 275 registered guarantee institutions across the country, which are expected to cover more than 10 million small and micro businesses. According to iResearch's "Blockchain + Supply Chain Financial Industry Research Report", by 2023, the blockchain will increase the penetration rate of the supply chain financial market by 28.3%, which will bring about an increase of 3.6 trillion market size.
Source: Ant Financial Service