Shen Renkang, Chairman of Zheshang Bank: Using blockchain technology to release the credit of core enterprises to small and micro enterprises in the industrial chain

According to China Financial News Network, on November 9th, in the special discussion of the 10th Caixin Summit, Shen Renkang, chairman of Zheshang Bank, said that Zheshang Bank used blockchain technology to decentralize, open and transparent, and smart contracts. And the characteristics that cannot be tampered with, for the problems of account receivable registration and confirmation, the accounts receivable are transformed into blockchain credit transfer tools, and the credit of core enterprises is released to small and micro enterprises in the industrial chain. Small and micro enterprises receive the blockchain receivables issued by the core enterprises, which can not only pay to the upstream suppliers, but also transfer them to the banks for financing at any time, thus effectively solving the problem of account receivables depletion, revitalizing the assets and reducing the assets. The company's external financing needs help enterprises stabilize their leverage and reduce costs.