"Chain" connects financial services, how does blockchain solve the trust problem?

　　Cai Shirong runs a small shop in Chengdu Bainaohui Computer City, and 80% of orders come from corporate customers. What
　　annoys her most is the accounts receivable. “Every day I think about how to get the money back.” As a terminal supplier, the accounts receivable are difficult to collect, which makes Cai Shirong often have funding gaps. Cai Shirong wants to apply for loan turnover, but she does not have many assets, and the client's IOU cannot be used as a basis to help her get the loan.
　　At the end of the supply chain, small, medium and micro enterprises have difficulty in financing loans, bank risk control, and departmental supervision... The situation that Cai Shirong encountered is universal.
　　In recent years, blockchain technology has been continuously applied. As a distributed ledger technology, blockchain creates value by creating trust, and provides new solutions to the difficulties in verifying the authenticity of assets and transaction information in the financial sector at this stage, high credit evaluation costs, and difficulty in implementing inclusive financial services. Ideas.
　　Specifically, how does blockchain help Cai Shirong solve the loan problem?
　　Chengdu Zhongke Daqi Software Co., Ltd. is one of Cai Shirong's major customers . As a high-tech enterprise in the smart cultural travel industry, with the expansion of its business scale, Zhongke Daqi needs more and more advances, and it often fails to obtain bank loans due to lack of collateral.
　　With the help of the blockchain technology platform " Shuangliantong " built by Ant Group , the cooperation between Zhongke Daqi and Cai Shirong is "on the chain" throughout the whole process to ensure that the contract exists, is open and transparent, and cannot be tampered with. At the same time, the introduction of Chengdu SME financing guarantee limited liability company USTC flag to increase trust , to ensure that the latter are able to pay Cai Shirong of the purchase price. Cai Shirong can then prove to the bank his ability to repay and obtain the loan smoothly.
　　In this process, the entire process can be mastered by bank loans chain block the flow of funds , to ensure that the money is used for purposes of applying for the loan, effectively reduce the risk.
　　The essence of finance is operating credit. The "Blockchain Financial Application Development White Paper" released by the Industrial and Commercial Bank of China in April this year pointed out that the blockchain provides financial services with a solution to transfer their "trust foundation" from high offline costs to low online costs. While reducing the cost of credit , the multi-party sharing feature of the blockchain also strengthens the connection and collaboration between the participants and improves the efficiency of value exchange.
　　"In the past, when we evaluated a company to look at financial statements, banks would also worry about the authenticity of corporate statements . " said Yuan Rui, deputy general manager of the transaction banking department of Shanghai Pudong Development Bank. In the era of big data, the production, sales, processing, manufacturing, and inventory of enterprises and other information , can become the bank of reference for corporate credit evaluation. Blockchain technology can make these information and data have features such as non-tampering, verifiable rights, and traceability , which is helpful for banks to evaluate.
　　In addition to supply chain finance, the application of blockchain technology in the financial sector is also reflected in the fields of trade finance , capital management, payment and settlement, and digital assets. Many domestic financial institutions and technology companies are actively deploying and building new platforms to help financial services.
　　According to Wang Haiyun, assistant to the general manager of the transaction banking department of China CITIC Bank, the transparent and difficult-to-tamper characteristics of blockchain information are very helpful in tracing the flow of funds. In Xiongan New Area, the financial construction fund management blockchain information system that China CITIC Bank participated in has been put into operation. This system can complete the penetrating payment of builders' wages and supplier materials, so that it can be traced and cannot be tampered with.
　　In the field of trade finance, Ant Group recently launched a new international trade and financial service platform Trusple based on blockchain technology, which can realize the intelligent performance of cross-border trade links with cooperative banks. After buyers and sellers generate trade orders ,Will automatically "wind up" and start circulation. When a company generates financing needs, financial institutions can submit a verification request to the platform to determine the authenticity of the company's trade.
　　The vigorous development of blockchain technology has put forward new requirements for system design and risk prevention.
　　Industry insiders said that at present, blockchain technology is developing rapidly , but at the same time it faces problems such as the need to improve the standard system, the contradiction between privacy protection and data sharing, the limitations of performance efficiency, and the lack of coordination inside and outside the chain.
　　"Block chain technology both opportunities and challenges, in the layout of this technological change, should pay more attention to business innovation and ecological synergy." Ant group vice president Jiang Guofei believes that collaboration is the ecological value of the block chain "amplifier" , both To provide partners with more opportunities to learn about business model innovation, and to establish a platform so that financial institutions can self-service develop more ecological businesses in their own "ecological fields", serve the real economy, and promote blockchain to become an industrial connection And the hub of value circulation.
　　Some experts also pointed out that financial institutions should be based on industry characteristics, based on actual applications, cooperate with industry authorities to develop application standards for blockchain in the financial field, guide the orderly promotion of blockchain in the financial field, and further improve different business areas. The level of large-scale application and promotion efficiency.
　　"The gradual application of emerging technologies in financial institutions has made it difficult for traditional regulatory techniques to meet existing regulatory needs. Therefore, we should also vigorously develop regulatory technologies and pay attention to how to use new technologies such as blockchain to strengthen financial supervision . " Chief of China Banking Association Economist Ba Shusong said.