Research on Financing of Small and Micro Enterprises in Supply Chain Empowered by Blockchain: Cases Analysis of Ant Double- Chain and Eternal Asia in China

Abstract

The financing of small and micro enterprises (SMEs) is known as the “worldwide problem”, and the epidemic of COVID-19 has made them fall into the predicament of financing difficulty. The new mode of digital supply chain finance empowered by blockchain provides a feasible new way to solve the financing problem of SMEs. China’s leading FinTech enterprises have made effective exploration and practice in the integration of blockchain and supply chain, among which Ant Double-Chain and Eternal Asia are outstanding representatives. By comparing and analyzing these two enterprises, it can be found that the technology of blockchain embedded in supply chain finance can widen the financing channels of SMEs. With the support of Alipay, Ant Double- Chain has built up a large number of user ecology, independently developed the core technology of ant chain, and focused on accounts receivable financing products, which solved the financing problem of small suppliers. Relying on the big data accumulated in supply chain management and logistics services, Eternal Asia introduces blockchain to provide one-stop supply chain financial services for SMEs. In order to give full play to the function of the blockchain, it is necessary to increase the participation willingness of the core firms in supply chain and cultivate the talents of FinTech, so as to better meet the financing needs of SMEs. Research on Financing of Small and Micro Enterprises in Supply Chain Empowered by Blockchain: Cases Analysis of Ant Double- Chain and Eternal Asia in ChinaDownload