Block Chain Under Epidemic Situation: Revitalize "Ious" To Help Small And Micro Enterprise Loans

The sudden new crown pneumonia has produced a test paper for all enterprises. Compared with the coping strategies of the head enterprises, the small and medium-sized enterprises are facing a big exam. Problems such as tight cash flow, difficulties in online transformation, lack of financing channels, and high cost of credit evaluation make small and micro enterprises in trouble.

A few days ago, the Institute of economics and management, Tsinghua University and other institutions showed that, with the new crown pneumonia, 85.01% of the enterprises' cash could not maintain more than 3 months, and nearly 30% of enterprises expected to decline more than 50% in 2020.

In fact, it is not terrible to get revenue temporarily. All small and micro entrepreneurs are expecting the explosive growth of business data after the outbreak. They hope to have enough funds to survive the cold winter before they can wait for spring.

How can small and micro enterprises help themselves? In the field of supply chain finance, block chain technology dominated financing mode is rapidly advancing. Generally speaking, in the supply chain finance, after the core enterprise "upper chain", the buyer's real transaction background and the payment promise generate a Bibi receivable certificate, which is a transferable and financing asset after being claimed by the seller.

This kind of "ious" can help small businesses get loans, but also revitalize the entire chain of capital needs, financing needs and credit assets. How to land its application scenario is still under exploration.

Revitalize the enterprise's "ious"

It is understood that during the epidemic, the demand for cash flow for small and micro enterprises that have not yet fully resumed is mainly composed of two parts: human resources and rental costs.

"The number of legal entities in China's small and micro business entities accounts for more than 99% of the legal entities in our country, and the number is very large. The common phenomenon has caused great trouble in small and micro enterprises in the cost of human labor." Liang Rong, an expert in ant chain products, told reporters in an interview with the economic news reporters in twenty-first Century that some small and micro enterprises' current cash flow can maintain the time of manpower expenditure plus rental expenses, and it will not exceed three months. Accounts receivable will become the key wealth of small and micro enterprises in a critical period.

Accounts receivable is the payment formed after the buyer of the lower reaches of the enterprise purchases the goods. When the production line is shut down, the income cash flow is cut off, and the production and business status of the enterprise has not returned to normal, the accounts receivable assets of this kind are the wealth that small and micro enterprises can use to save themselves.

In this key link, small and micro enterprises use block chain to achieve contactless loans, to a certain extent, can solve the urgent shortage of cash flow. Liang Rong explained that the payment produced by the core enterprises on the entire link is issued by a core enterprise to a payment voucher. The suppliers at all levels pay the payment certificate based on the real trade. If the small and micro enterprise has this payment voucher, he can apply for a loan online according to the Bank of the ant cooperation. It can reach second level loan quickly.

It is perhaps the only straw that can be grasped by small and micro enterprises to revitalize the valuable assets that can still be revitalized on the books. The tourism industry, which suffered serious setbacks in the epidemic, was the first to launch its own rescue.

"During the golden week of the Spring Festival, there must be hundreds of millions of transactions in the golden week. This year we have been sticking to it for a few days. We have also been deeply considering the upgrading and transformation of enterprises. The most important core of fighting capability is capital. The development of enterprises needs liquidity, and a large amount of capital is needed to upgrade and transform information. Yang Chen, deputy general manager of Limited by Share Ltd Zhongqi banner software Limited by Share Ltd, told reporters on twenty-first Century economic report that in the upstream area of the industrial chain, once the infrastructure can not keep up, the volume of future geometric growth will not be able to meet the customers' needs. Although we can see the growth of cash flow in the short term, the tourism experience will be destroyed in the long run, which will cause huge losses.

Before the opportunity comes, we need to improve our internal strength. However, the amount of credit granted by banks to cultural travel enterprises has dropped sharply. As a national scenic hotel, Zhongke banner has developed an intelligent system platform with annual sales of over 100 million yuan. Behind this is hundreds of small hardware equipment manufacturers across the country, a steady stream of supply transactions.

In order to solve the dilemma, Zhongke banner uses ant double chain to form a securitization mode of scenic assets: in the supply chain finance, after the core enterprise "upper chain", the buyer's real transaction background and the payment commitment generate a Bibi receivable certificate, which is turned into a transferable and financing asset after the seller claims.

Then, the bank looks at the information in the supply chain, and knows the product line of which the final order will be supplied to the large enterprise. It knows that the money borrowed will flow to the normal supply of the main business, and the ability to repay is also known. The risk of the loan becomes more controllable. The whole process of financing circulation is clearly marked, not tampered with, and the risk of misappropriation of funds is eliminated by one chain.

Constructing supply chain financial ecology

Consistent with the selection of Zhongke banner, the 1919 largest domestic liquor retailer is also relying on block chains to tide over difficulties. The platform now has a registered user of about 12 million, which requires a strong supply chain to support development.

1919 platform Dong Jin Jin told Qinghai economic news reporter twenty-first Century that during the Spring Festival, more than 1900 of the company's stores had 1/3 industries. Even the offline stores that had already opened up, the sales volume also declined sharply because of the restrictions on Residents' movements in some districts.

At the same time, the traditional liquor trading industry is basically cash transactions, the flow of capital requirements are very high, dealers also need to quickly withdraw funds, so this need to have rapid capital turnover.

At present, the 1919 platform has provided nearly one hundred million of the capital flow for the small and micro businesses upstream. In the whole process, Jin Qinghai can feel the innovation of block chain + supply chain finance, and enhance its efficiency to the whole industry. The improvement of efficiency also brings about the improvement of product price and service efficiency.

"Our industry is very special, upstream is a first-line brewery, they have a lot of money, and hope to participate in the supply chain finance of the entire liquor circulation, and then to the B end suppliers. Of course, mainly by banks to provide services. In the view of Jin Qinghai, double chain links provide a good wind control system, which can give energy to the whole industry that is dominated by core enterprises.

He believes that there will be more opportunities for financial and technological innovation in the future, in some private investment outlets, if there are other restaurants, KTV, smoke hotels and so on, there will be more demand for greater motivation to do more account business.

Looking back at the development of block chain technology, its landing in the field of supply chain finance has been relatively deep. Upstream enterprises can finance accounts payable by core enterprises, while downstream enterprises can raise funds through warehousing and pledge. The core technical value of block chain is to establish trust, which can break two difficult problems in the supply chain finance field: the trust transfer problem among the supply chain multi-level enterprises, the untrustworthy information of the trade end and the capital side.

"Core enterprises have been supported by financial institutions during the epidemic period, and the entire supply chain will be infiltrated, which can guarantee the starting rate and corresponding employment. When the whole society is resuming production and life, enterprises will be more able to get better orders and get better development." Ant King service chain business development expert Zheng Hao told reporters on twenty-first Century economic report.

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