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Analysis: application of blockchain technology in agricultural development bank business

Time : 07/07/2022 Author : j2ouf7 Click : + -
        Including payment and settlement, digital bills, supply chain finance and other scenarios. In the context of the market-oriented reform of the grain collection and storage system, in order to maintain its comparative advantage in the field of grain, cotton and oil, the agricultural development bank needs to constantly innovate systems and products, actively use big data, blockchain and other technologies, improve financial service capabilities, and effectively identify and prevent loan risks. The field of payment and settlement is the earliest and most mature field of blockchain technology. The application of blockchain technology helps to reduce the cost of reconciliation and dispute resolution between financial institutions, improve the processing efficiency of payment and settlement business, and reduce transaction costs and credit risks. Blockchain will change the original remittance mode of node by node confirmation like a relay race to the mode of real-time synchronous confirmation of multiple nodes.
        If the payment behavior occurs in the same blockchain platform, the whole process will be greatly simplified, and the buyer and the seller will directly conduct point-to-point transactions; If the payment behavior occurs between two blockchain platforms, the cross blockchain platform payment needs to be realized through the fusion transfer station, but it does not need to be cleared through multiple institutions and multiple financial information systems, and the transaction and fund transfer are completed at the same time. With the progress of blockchain technology, digital bills based on blockchain have been ready for development. Digital bill is a new form of bill presentation based on the existing bill attributes, laws and markets with the help of blockchain technology. Digital bills can achieve the goals of identifying the authenticity of bills, improving clearing efficiency and reducing settlement costs.
        For ticket holders, digital bills are more efficient than traditional bills. Digital bills can realize real-time clearing on the chain after the cooperation institutions are connected, and improve the clearing efficiency. At the same time, embedded smart contracts can realize automatic and unconditional performance, ensuring that all kinds of transactions are completed according to the agreed rules. For banks, digital bills have better security than traditional bills. Blockchain ensures that transaction information cannot be tampered with, improving the security of transactions; Digital bills use smart contracts to set corresponding conditions for bill issuance, endorsement, transfer, acceptance and discount to ensure bill security. For regulation, digital bills are easier to regulate than traditional bills. As a common node in the blockchain, regulators can audit and supervise transaction records in real time without relying on the interface provided by the bill trading platform; It can also be used as a special node to establish smart contract rules and edit the chain program, so as to realize the supervision of the whole process of the bill of exchange.
        In supply chain finance, banks and core enterprises occupy the core position in the whole business, so alliance chain is a form of blockchain more suitable for supply chain finance. Traditional supply chain finance can only penetrate primary suppliers or dealers, and secondary suppliers or dealers with more urgent financing needs can hardly enjoy the financing convenience brought by core enterprise credit. After the introduction of blockchain technology, relying on the distributed, tamper proof and transparent characteristics of blockchain, the division, circulation and transmission of core enterprise credit on the chain can be realized. Taking accounts receivable financing as an example, after the core enterprise signs the supply contract with the first-class supplier, it issues the accounts payable voucher and confirms the uplink. The platform converts the accounts payable of the core enterprise into digital creditor's rights vouchers and circulates in the uplink.
        Suppliers at all levels have several ways to deal with digital creditor's rights vouchers: first, divide and transfer the digital creditor's rights vouchers to the upper level suppliers as payment for goods. Second, hold digital creditor's rights vouchers and wait for core enterprises to cash. Third, pledge the digital creditor's right certificates to bank financing. Fourth, transfer vouchers to banks to obtain funds. After the core enterprise cashes the accounts, all parties holding digital creditor's rights vouchers can obtain the corresponding funds. Digital debt vouchers can ensure that the embedded information cannot be tampered with. At the same time, the chain block structure with timestamp ensures the traceability and verifiability of digital debt vouchers. The introduction of blockchain technology into supply chain finance has achieved win-win results for all parties.
        For banks, it can solve the problem of identifying counterfeits, reduce the cost of risk control, realize the closed-loop of funds, obtain more enterprise customers and improve operating income; For core enterprises, they can adjust the debt period according to their actual situation, improve cash flow, reduce operational risks, optimize the relationship with other enterprises in the industrial chain, and promote the stability of the industrial chain system; For suppliers and dealers at other levels of the industrial chain, the separation and circulation of core enterprise credit in the chain can alleviate the tight state of the capital chain and significantly reduce financing costs. First, apply blockchain technology to build a blockchain platform for grain, cotton and oil credit, integrate the core enterprises of grain, cotton and oil purchase, sale and storage and their upstream and downstream enterprises into the blockchain system, and access government systems such as credit reporting, industry and commerce, justice, taxation, etc.
        The enterprise will store the identity, assets and business information on the chain. At the same time, it relies on blockchain, big data, AI video technology and other high-tech means to upload the inventory change information of grain, cotton and oil special warehouses (stacks) in real time, and conduct dynamic monitoring of grain goods in an all-round and all-time manner. Second, the purchase, sale and storage enterprises of grain, cotton and oil sign purchase and sale contracts with suppliers. The suppliers send the goods to the designated warehouse. After the goods are warehoused, the inventory is comprehensively checked by intelligent means in a timely manner. After the verification is correct, the data is linked, and the blockchain platform automatically generates standard electronic warehouse receipts. The enterprise pledges the electronic warehouse receipt to the Agricultural Development Bank of China, broadcasts it to all nodes of the blockchain, and copies the coexistence data of multiple parties. Third, grain, cotton and oil purchase, sale and storage enterprises issue digital debt vouchers on the blockchain platform and pay them to upstream suppliers, who can transfer or pledge the digital debt vouchers to Agricultural Development Bank of China for financing.
        The Agricultural Development Bank of China will cross verify the digital debt vouchers with contracts, transactions, logistics information and external government information. After approval, the platform will automatically release funds to the supplier's fund account through the embedded smart contract. Fourth, the purchase, sale and storage enterprises of grain, cotton and oil upload the purchase and sale contracts signed with downstream customers in real time. When goods are delivered out of the warehouse, the purchase, sale and storage enterprises of grain, cotton and oil upload the variety, quantity and flow direction of goods delivered out of the warehouse in real time. The agricultural development bank uses intelligent means to track and inspect in time and supervise the increase or decrease of goods inventory. After the downstream customers pay the money to the grain, cotton and oil purchase, sale and storage enterprises, the smart contract embedded in the platform automatically deducts the money to cash the digital creditor's rights certificate, and then repay the agricultural development bank loan.
        "Grain, cotton and oil credit business + blockchain" mode is conducive to better realize "money goes with grain, purchase and loan repayment, special funds for special purposes, Treasury loan linkage, closed operation". On the one hand, it can ensure the safety of grain collateral assets and effectively reduce credit risks; On the other hand, it can ensure the safety of the purchase funds of grain, cotton and oil, and put an end to all kinds of misappropriation of the purchase funds. During the construction of xiong'an new area, China xiong'an group launched the first domestic project integrated management system based on blockchain technology &mdash& mdash; Xiong'an blockchain fund management platform. The platform mainly solves the problem of funds in the process of project construction. All contracts and tickets between enterprises and general contractors, general contractors and subcontractors, subcontractors and construction personnel are uploaded to the blockchain system, and circulating funds are signed and broadcast through blockchain technology.
        All behaviors are marked and backed up at multiple points to ensure that the data cannot be tampered with. The platform uses the smart contract embedded in the blockchain to confirm the payment path of project funds and realize one click and penetration payment, which can effectively solve the problems of default subcontracting, misappropriation of funds and arrears of migrant workers' wages. By learning from the advanced experience of xiong'an group, in the field of infrastructure, Agricultural Development Bank of China can build a blockchain platform to include owners and contractors at all levels. First, the owner and contractors at all levels will link the contract, project progress, early-stage fund payment and other information. Based on its own high-quality credit, the owner can convert the accounts payable under the project contract or agreement into digital creditor's rights vouchers and circulate on the chain.
        Second, contractors at all levels pledge the digital debt vouchers received to the agricultural development bank. The Agricultural Development Bank cross verifies the digital debt vouchers with contracts, transactions, engineering information and external government information. After approval, the platform automatically distributes funds to the special accounts of contractors at all levels through embedded smart contracts. Third, during the project, the owner and contractors at all levels upload data information such as project progress and digital voucher circulation in real time. Through blockchain, big data and other intelligent means, the Agricultural Development Bank monitors the project progress and capital flow in real time to realize the dynamic issuance and recovery of loan funds. After the contractor obtains the project funds, the smart contract embedded in the platform will automatically deduct the funds to repay the agricultural development bank loan.
        The "infrastructure credit business + blockchain" model helps to realize the multi-layer penetration of the owner's credit resources and alleviate the financing problems of the whole construction chain; Through the penetrating management of the project, the security of the fund payment path can be ensured; By issuing digital debt certificates, the owner can effectively manage its own cash flow and reduce the pressure on asset liability ratio. With the development of cloud computing, big data, blockchain and other technologies, commercial banks have launched online loan business. In order to better play the function of "supporting agriculture and supporting small businesses" in policy finance, the Agricultural Development Bank of China needs to further explore and develop online loan business, take online business as the starting point to achieve high-quality development, and realize the high-quality development of online loan business by using blockchain technology to connect various modules such as credit system, new core system and external government data.
        Building a blockchain platform, the Agricultural Development Bank of China can set up nodes for financial technology companies, loan enterprises, collection agencies, etc., and access government systems such as credit reporting, market supervision, justice, taxation, etc., so as to realize the real-time uplink of information. First, in the pre loan link, the loan enterprise uploads the data of operation, finance, corporate governance and so on. Combined with the information of the external government system, the blockchain platform allows the enterprise to access, rate and credit through the embedded anti fraud, customer portrait, credit risk and other model systems. At the same time, it uses the information uploaded by each node to dynamically monitor and manage the credit. The enterprises that pass the credit can "use, take and recycle" within the credit line. Second, in the central link of loan, when enterprises apply for payment, the platform will automatically issue loans through embedded smart contracts after confirming the identity, quota and other elements.
        At the same time, the system automatically generates electronic contracts with embedded digital signatures, which are linked and automatically filed to ensure the authenticity, integrity and tamperability of the contracts. The new core system connected to the platform automatically keeps accounts synchronously. Third, in the post loan link, the system continues to monitor the operation of the enterprise. On the one hand, each capital flow of the enterprise is up the chain to ensure multi-point backup, and the embedded model of the platform uses big data technology for automatic analysis; On the other hand, the platform combines with the external government system to update the information of credit, tax, justice and so on in real time. When there is an abnormal situation, the early warning mechanism is automatically triggered. The system stops adding new loans to the enterprise and transmits the analysis results to the relevant parties, and takes measures to recover the loans in advance according to the situation.
        When the enterprise repays the loan, the new core system connected to the platform will automatically reconcile and bookkeep, reducing manual errors. When a loan becomes overdue or non-performing, the collection mechanism is automatically triggered. The agricultural development bank online loan platform can cover the whole process of pre loan, in loan and post loan, including blockchain, credit, new core, file management and other systems. It has become an information automation processing platform for enterprises to provide information, government system synchronization information, big data analysis information and blockchain backup information.
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