Blockchain-Driven Account Receivable Financing Coordination Strategies

Supply Chain Finance (SCF) can better relieve capital constraints and provide financial support for capital-constrained enterprises by relying on trade relations among enterprises. However, SCF faces predicament such as insufficient credit mechanism and difficulty in trust transmission. Blockchain has great application advantages in SCF dilemma. This paper puts blockchain into Accounts Receivable Financing (ARF), using the game analysis method, and cooperative game and non-cooperative game are adopted. It discusses the equilibrium strategy in four situations: non-cooperative decision without blockchain, cooperative decision without blockchain, non-cooperative decision with blockchain and cooperative decision with blockchain. At the same time, the Risk-sharing mechanism is introduced. It is found that when the cost of blockchain meets certain conditions, the introduction of blockchain technology will reduce the information acquisition cost among supply chain members compared with that without blockchain technology, thus improving financing efficiency. Cooperative decision can improve the overall financing efficiency more effectively than non-cooperative decision. Risk-sharing mechanism can effectively coordinate the interest conflicts of enterprises and improve the overall efficiency of the supply chain. This study can provide useful decision-making references for managers.