Blockchain Token Model for Supply Chain Financing of SMMEs

Abstract

Financing difficulties are common among the small-, medium- and micro-enterprises (SMMEs). Although supply chain financing alleviates the problems of SMMEs, such as narrow financing channels, intractable financing and expensive financing, however, due to the centralised storage and management of data, the authenticity of data cannot be guaranteed. The credit of the core enterprises in the supply chain cannot penetrate the SMMEs in upstream and downstream. This paper establishes a blockchain pass-through model for supply chain financing by improving the PBFT consensus algorithm based on blockchain’s decentralised and tamper-evident characteristics and the pass-through of SMMEs’ assets in the supply chain. The model improves the circulation efficiency of the supply chain; moreover, it enables the credit of core enterprises to the upstream and downstream, solving the financing dilemma of SMMEs.