Abstract
After the development and inception of cryptocurrencies, Blockchain has found much usefulness in many domains. The Blockchain technology offers several advantages like decentralization, traceability, anonymity, cryptography, collective maintenance and immutability. The possible disruption and prospective capabilities of the Blockchain technology has been extensively utilized in the Finance domain. There has been extensive exploration on the integration and application of Blockchain technology in the domain of supply chain and supply chain finance as well. But, a detail framework of application is seldom mentioned. In this research, we have studied and analyzed the possible synchronization between Blockchain technology and supply chain finance. This study also presents a conceptual framework based on Blockchain technology to enhance the efficiency of supply chain financing for small and medium scale enterprises. Finally, this study proposes three supply chain finance models and their operation processes on a Blockchain Platform.
Highlights
The popularity of Bitcoin has made Blockchain a very attractive and interesting, useful technology
Blockchain technology can be used by parties in the supply chain network for sharing data directly with other firms in their supply chain to reduce the existing information asymmetry
Blockchain technology can be leveraged for network signaling in the Supply chain finance (SCF) context as it can be used for facilitating secure information sharing to reduce information asymmetry
Summary
The popularity of Bitcoin has made Blockchain a very attractive and interesting, useful technology. In case of supply chain financing, there is need for high transaction speed as well as a provision for giving specific authorities to certain nodes This can be achieved by smart contracts on s Consortium Blockchain. 4) Logistics service providers: In the supply chain finance business, logistics service providers act as an auxiliary node They help the financial institutions by verifying the status of the pledged goods by updating information on the Blockchain platform. The transactions between the features of supply chain finance business, an node members are verified by the consensus hyperchain is required to improve the consensus mechanism and information like transaction value, mechanism This platform of BTP-SCF sanctioned loan, volume and cost of goods, should use Redundant Byzantine Fault Tolerance inventory status etc are all stored on multiple (RBFT) consensus mechanism.
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
