Ant Financial's Director of Blockchain Technology: Blockchain makes small and micro enterprises' financing time cost from 3 months to 1 second

Yan Ying, technical director of Ant Financial's blockchain, said in an interview that the landing scene of Ant Financial's blockchain has reached more than 40, mainly in the areas of people's livelihood and service entities. We believe that blockchain must solve real social problems in order to realize value. In terms of supporting the real economy, Ant Financial's blockchain application mainly falls on supply chain finance, enabling flexible and reliable separation and circulation of accounts receivable, which can solve the problem of difficult and expensive financing for small and micro enterprises at the end of the supply chain. As a result, more small and micro enterprises can obtain equal and efficient inclusive financial services. How does the blockchain make the financing time cost of small and micro enterprises from 3 months to 1 second? On the one hand, the transparency of upstream and downstream transactions in the supply chain has been improved, and the transaction status has become more real-time and reliable. Financial institutions can finance small, medium and micro enterprises based on blockchain receivables, and establish a reliable and stable supply chain financial ecosystem. . In other words, the distributed bookkeeping and immutable technical features of the blockchain have transformed the credit in the entire business system into a conductive and traceable one, providing financing opportunities for a large number of small, medium and micro enterprises that could not otherwise be financed.