A trust transitivity model of small and medium-sized manufacturing enterprises under blockchain-based supply chain finance

Abstract

Small and medium-sized manufacturing enterprises (SMMEs) have been facing the financing contradiction of “strong demand” and “weak trust” for a long time, and financing constraints are closely related to the production efficiency of manufacturing enterprises. Therefore, how to solve the financing problem has become one of the most concerned issues for the development of SMMEs. After years of development, supply chain finance (SCF) has become an important way of financing for SMMEs. Under the traditional supply chain finance system, Tier 1-supplier in the manufacturing industry chain can make use of the high credit of core enterprises for financing, but the high credit of core enterprises cannot be transmitted to Tier 2 to Tier N-suppliers in the long tail market. In recent years, the innovative development of supply chain finance driven by blockchain technology has played a positive role in overcoming the lack of trust and has spawned a multi-level supply chain finance system. In this context, the paper proposes to establish a trust transitivity model based on the electronic payment voucher (EPV) issued by the blockchain, using the intuitionistic fuzzy set theory, and comprehensively consider direct trust and indirect trust. In trust aggregation, the dynamic weight allocation strategy is introduced to play the role of incentive and punishment for SMMEs. This study aims to provide a new idea for the trust evaluation of SMMEs by building a trust transitivity model, so as to give full play to the value-added and transmission effect of the manufacturing industry chain, and relieve the financing difficulties for SMMEs. Finally, the study further verified the rationality of the model through the analysis of numerical examples.