Carsoncity Headlines

Looking at the new development of Chinese and foreign supply chain finance

 Breaking News
  • No posts were found

Looking at the new development of Chinese and foreign supply chain finance

September 19
21:12 2019

Halfway through 2019, but Supply chain finance parties are still highly competitive.

Traditional banks, finance companies work hard in supply chain finance development effort for small micro-enterprise finance industry has brought warmth. However, as the business development, supply chain finance In practice for small micro-enterprises to help the industry and not as prominent, there are still many problems to be solved. This gives the blockchain a big show of space.

The supply chain financial solution based on blockchain technology can ensure data credibility, mutual recognition and circulation, privacy protection, solve the problem of information islands in the supply chain, and release the core enterprise credit to the multi-level suppliers of the entire supply chain. Improve the financing efficiency of the entire chain, reduce business costs, and enrich the business scenarios of financial institutions, thereby improving the efficiency of capital operation throughout the supply chain.

Through the layout of major banks and financial giants, blockchain technology is empowering banking products and services. In the supply chain, trade finance business bar line, if they can block chain with new technologies, such as large data on each node increase business, especially small computer configuration transaction can not be altered, lower costs, improve efficiency, will help solve small micro-enterprise sector financing difficulties financing your pain points.

Coincidentally, in the United States, supply chain finance (SCF) has become more and more common in the past decade, and has encountered bottlenecks in continuous development. The break through the bottleneck is by virtue block chain technology development brought about by industrial information credible and information sharing technologies have made the progress.

As Christiaan de The Payers of Goeij and Michiel Steeman reported as not tamper with the coalition chain properties have a significant impact on the supply chain financing. Blockchain system supply chain by providing on the core business of standard information , such as credit, supplier inventory levels, purchase orders and receiving approval, invoice receipt and approval, so as to lower costs significantly increase the settlement rate. The proliferation of IoT throughout the supply chain will help identify and automate the tasks associated with shipping, delivery and quality control. Authentication and blacklist settings also require multiple independent verification, which is also the non-block chain of tampering with a shared goal record is consistent.

As the adoption of new technologies continues to grow, supply chain financing will increasingly be used by small and diverse suppliers. Forbes’ Robert Murphy pointed out that blockchain-based trusted technology makes it easier for buyers with limited means to set up SCF systems, providing simplified guidance for multiple vendors and analytics to help optimize negotiated pricing agreements and other benefits. Terms. Next, as smart contracts and blockchain automation and other tools for financial transactions become more powerful, funds from other sources, such as credit unions and individuals, will be allowed to be pooled programmatically and provide many SCFs currently available only through banks. service. This will further reduce management and management costs while enabling small suppliers to more easily maintain cash flow and grow their business than ever before.

It is reported that China Shenzhen Rongxin chain technology company is also in the industrial supply chain technology by blockchain carried out a useful exploration of the financial field. With the credible financial technology such as blockchain as the carrier, Rongxin Chain Technology will revitalize the smart factory panoramic monitoring platform, the intelligent factory management SaaS+AlaaS system and the business and financial integration platform, through trusted data and independent research and development. control module type is based on the field of financing and loans for SMEs help industry. At present, the credit chain has reached strategic cooperation with a number of core enterprises, providing a reliable pilot for the practice and application of blockchain technology in industrial Internet of Things and supply chain finance.

Media Contact
Company Name: Goknews
Contact Person: Media Relations
Email: Send Email
Country: United States
Website: www.goknews.com