Blockchain - an emerging/a novel technology for supply chain finance development
One of the largest cryptocurrency exchanges-bitFlyer Blockchain Arm in Japan and one of the biggest Bitcoin brokers worldwide just announced their blockchain arm would be starting consulting services to address requests from new businesses on blockchain technology.
BitFlyer Blockchain said they would be offering a fifth service consulting in addition to the BaaS, Joint Business, Miyabi Core, and RegTech services available at the firm. It aims to target companies starting new businesses and revolutionize task management in industries such as finance, manufacturing, technology, real estate, and public sectors.
The move comes in response to requests bitFlyer Blockchain has received regarding blockchain technology. The company noted that corporations have made inquiries about Security Token Offerings (STO), building transparent supply chains, and how to make use of Non-Fungible Tokens (NFT) for managing the IPs of video game content, music, and anime copyrights — big business in Japan.
Blockchain is not only a new technology, but also a new organizational form of information sharing. There have been many studies on blockchain in recent years, and an article published on the journal of Modern Management Forum have also conducted research on issue of warehouse receipt pledge financing model based on blockchain technology.
According to the author,the "blockchain" is becoming a new wind outlet for all walks of life to break through and rebuild. As a new financing model combining production and finance, supply chain finance should sharply capture the value of blockchain technology as the underlying architecture, explore its application in the supply chain finance field, and diversify supply chain finance, innovative development. It can be foreseen that when the blockchain changes the traditional industry operation mode, whether it is supply chain finance, logistics, identity authentication, including people using cryptography algorithms to calculate the supply chain, etc., will promote the enterprise and business concept to a new height.