BOC Zhejiang uses blockchain to build dealer supply chain financing products

According to Qianjiang Evening News, Bank of China Zhejiang Branch launched a quadripartite cooperation model among brands, distributors, platform service providers and banks that called Tmall Dealer Supply Chain Financing Product (天猫经销商供应链融资产品). The system realizes the circulation of trust with the help of blockchain technology.

According to Qianjiang Evening News, Bank of China Zhejiang Branch launched a quadripartite cooperation model among brands, distributors, platform service providers and banks that called Tmall Dealer Supply Chain Financing Product (天猫经销商供应链融资产品). The system realizes the circulation of trust with the help of blockchain technology.

It is reported that the underlying technology of the platform is independently developed by the Bank of China, which uses the characteristics of traceability, consensus and decentralization of the blockchain to ensure the credibility of the transaction information and further reduce the risk control cost of the capital side.

The “dual-chain” integration of “blockchain + supply chain finance” will provide a new mode of thinking for supply chain financing.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/05/boc-zhejiang-uses-blockchain-to-build-dealer-supply-chain-financing-products/.

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