175 / 2024-04-22 16:24:30

The application value and cost sharing mechanism of blockchain technology in supply chain finance

application value, cost sharing mechanism, blockchain technology, supply chain finance

The application of blockchain technology prompts the credit of the core enterprise to be able to transfer to the small and medium-sized enterprises (SMEs) at the far end of the supply chain, which effectively solves the capital shortage problem of SMEs. Based on this, this paper focuses on a four-level supply chain consisting of a manufacturer, distributor, retailer, and blockchain technology service provider to explore the application conditions, value, mode selection, and cost-sharing mechanism under the application of blockchain technology. This study shows that (1) when the market size is large, the manufacturer, distributor and retailer choose to apply blockchain technology, which enable them all to gain higher profits. (2) When the research and development investment coefficient of blockchain technology is low, the manufacturer-as-leader model is better than the blockchain technology service provider-as-leader model, which enables each participant to obtain more profit; conversely, when it is high, the blockchain technology service provider-as-leader model performs better. (3) Compared with the proportion of blockchain technology application enterprises (manufacturer, distributor, and retailer) sharing the application cost of blockchain technology equally, when the proportion of sharing the cost among them meets certain conditions, it can make all three of them obtain higher profits. The research findings provide guidance for the application of blockchain technology in supply chain finance.