Abstract
Blockchain technology has the characteristics of decentralization and immutability. Since it appears, blockchain technology has received widespread attention and is considered to be the most revolutionary technology with the most promising development after cloud computing, Internet accelerated speed, and big data. Therefore, a wave of application of blockchain technology has set off around the world today. Supply chain finance is based on multi-party, relatively closed environment, and requires controllable and trusted data as supporting factors. Naturally, it has great potential room for combining with blockchain technology. The application of blockchain technology in the field of supply chain finance can provide new solutions to the problems in the development of supply chain finance. Therefore, the research on supply chain finance based on blockchain has become a new research hotspot. This article reviews the current literature on the application of blockchain to supply chain finance. Numerous studies have shown that the application of blockchain technology will open a new door for the development of supply chain finance and promote the vigorous and healthy development of supply chain finance.
Highlights
Blockchain technology has the characteristics of decentralization and immutability
Numerous studies have shown that the application of blockchain technology will open a new door for the development of supply chain finance and promote the vigorous and healthy development of supply chain finance
This paper summarizes that blockchain technology has a good application prospect in the field of logistics supply chain, which can deal with the long-standing problems in the field of logistics and is expected to bring changes to the logistics industry
Summary
With the continuous deepening of socialized production methods, market competition has shifted from competition between single customers to competition between supply chains. Chain finance is a financial innovation business of financial institutions such as commercial banks. The business of supply chain finance began to flourish, and financing products such as prepayment financing, settlement and insurance appeared. This is due to the high concentration of the logistics industry and the development of supply chain theory. In the late 1980s, major international logistics began to gradually focus on a few logistics companies, such as FedEx, UPS, and German Rail Logistics At this stage, the development of foreign supply chain finance began to form a “logistics-based, financial supplementary” operating philosophy, and supply chain finance has developed rapidly due to the deep participation of logistics companies. Liu of blockchain technology to the development and innovation of supply chain finance, and gives a literature review of this research
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