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Hit a new high! The financing amount on Wanxiang blockchain supply chain financial service platform exceeded 2.5 billion

Time : 27/06/2022 Author : k2j4q0 Click : + -
        The Wanxiang blockchain supply chain financial service platform, which is developed and operated by Wanxiang blockchain and provides services to Bank of Jiangxi, Zhengbang technology and their suppliers, has helped many enterprises, especially small, medium-sized and micro enterprises, obtain the financing needed for the development of many businesses. Up to now, the total financing amount on the platform has exceeded 250million yuan. In the traditional supply chain business, the frequent counterfeiting problems, the low business efficiency caused by the long reconciliation cycle of suppliers at all levels, the waste of resources caused by the long cycle of suppliers' accounts receivable, and the problems of "difficult financing" and "expensive financing" have been faced by small and medium-sized enterprises in the development. Part of the reason for the financing difficulties of small and medium-sized enterprises is that financial institutions are difficult to grasp the real situation of the production and operation of small and medium-sized enterprises, and are unable to make accurate research and judgment on their financial status and development prospects.
        To solve the problem of information asymmetry between small, medium-sized and micro enterprises and banks, we need to open up the "information island", unplug the "data chimney", and build a good financial infrastructure. The development of blockchain provides a new way to solve this problem. Based on blockchain technology, Wanxiang blockchain supply chain financial service platform manages the key business data in the transactions between the central enterprise and its upstream suppliers, and introduces financial institutions into the platform. First of all, the tamperability of blockchain and the characteristics of multi-party bookkeeping ensure the authenticity of transactions recorded on the platform and the transparency of system operation rules, which can prevent illegal transactions. Secondly, bills and contracts can be stored and transferred electronically, which makes business more efficient and business costs lower.
        Moreover, electronic vouchers on the chain can be infinitely split, transferred, discounted and financed, which is conducive to easing the financial pressure on small and medium-sized enterprises. In addition, the traceability of records in the chain can effectively alleviate the degree of information asymmetry and realize the visualization of supply chain business. At the same time, through the information access of core enterprises, it can continuously and effectively disclose the underlying real trade information and form digital assets. Financial institutions can easily grasp the operation of small, medium-sized and micro enterprises, and small, medium-sized and micro enterprises can also obtain financing from financial institutions at a lower cost and faster. On the other hand, asymmetric encryption technology can realize the targeted display of data in the process of transaction and financing, and protect trade secrets.
        In the cooperation with Bank of Jiangxi and Zhengbang technology, Bank of Jiangxi provides financing services for Zhengbang technology and its subsidiaries' upstream suppliers in the mode of reverse factoring (accepting the transfer of accounts receivable). Zhengbang technology and its subsidiaries, as central enterprises, accept the credit line of Bank of Jiangxi, confirm the right to obtain bank funds for its upstream suppliers, and return the bank funds on the due date of accounts receivable. Suppliers can use the accounts receivable on the book of the enterprise as payment, settlement and financing tools, and can pay or finance externally at any time. This can effectively solve the problem of information asymmetry between small and medium-sized suppliers and Bank of Jiangxi. It can not only help bank of Jiangxi better serve private and small and medium-sized enterprises, but also enable small and medium-sized enterprises to obtain benign funds for development.
        Through the platform, suppliers apply for financing online using contracts and invoices confirmed by Zhengbang technology, which greatly shortens the cycle of accounts receivable. In addition to supply chain finance, Wanxiang blockchain has explored "blockchain +" solutions in several fields, such as automotive supply chain logistics, commodity regulation and trade financing, charitable trust, blockchain certificate deposit, food traceability, medical health, insurance, e-government and so on. Relying on the new generation of alliance blockchain platform "platone", which integrates global algorithm resources and computing power resources, the blockchain products and services provided by Wanxiang blockchain have the advantages of stable and reliable operation, safe and reliable, simple and easy to use, fast response and so on.
        At the same time, Wanxiang blockchain has an experienced team of experts, who can formulate appropriate blockchain solutions according to different scenarios to help enterprises reduce costs and increase efficiency. Wanxiang blockchain will also continue to guide more funds to serve the real economy through the value connection of blockchain, enable science and technology to the industry, and promote industrial transformation.
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