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A Financial Management Platform Based on the Integration of Blockchain and Supply Chain

Internet of Things (IoT) finance extends financial services to the whole physical commodity society with the help of IoT technology to realize financial automation and intelligence. However, the security of IoT finance still needs to be improved. Blockchain has the characteristics of decentralizatio...

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Detalles Bibliográficos
Autores principales: Liu, He, Yang, Biao, Xiong, Xuanrui, Zhu, Shuaiqi, Chen, Boyu, Tolba, Amr, Zhang, Xingguo
Formato: Online Artículo Texto
Lenguaje:English
Publicado: MDPI 2023
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9919595/
https://www.ncbi.nlm.nih.gov/pubmed/36772538
http://dx.doi.org/10.3390/s23031497
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author Liu, He
Yang, Biao
Xiong, Xuanrui
Zhu, Shuaiqi
Chen, Boyu
Tolba, Amr
Zhang, Xingguo
author_facet Liu, He
Yang, Biao
Xiong, Xuanrui
Zhu, Shuaiqi
Chen, Boyu
Tolba, Amr
Zhang, Xingguo
author_sort Liu, He
collection PubMed
description Internet of Things (IoT) finance extends financial services to the whole physical commodity society with the help of IoT technology to realize financial automation and intelligence. However, the security of IoT finance still needs to be improved. Blockchain has the characteristics of decentralization, immutability, faster settlement, etc., and has been gradually applied to the field of IoT finance. Blockchain is also considered to be an effective way to resolve the problems of the traditional supply chain finance industry, such as the inability to transmit core enterprise credit, the failure of full-chain business information connections and the difficulty of clearing and settlement. Supply chain finance allows the strongest enterprise in the supply chain to apply for credit guarantee from the bank to obtain bank loans, and use the funds for circulation in the supply chain to ensure that each enterprise in the whole supply chain can obtain working capital to realize profits, so as to maximize common interests. In this paper, a financial management platform based on the integration of blockchain and supply chain has been designed and implemented. Blockchain is used to integrate supply chain finance to synchronize the bank account payment system, realize the automatic flow of funds, process supervision and automatically settle account periods based on smart contracts. The four functional modules of the system are designed using unified modeling language (UML), and the model view controller (MVC) architecture is selected as the main architecture of the system. The results of the system test show that the proposed platform can effectively improve the system security, and can use the information in the blockchain to provide multi-level financing services for enterprises in supply chain finance.
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spelling pubmed-99195952023-02-12 A Financial Management Platform Based on the Integration of Blockchain and Supply Chain Liu, He Yang, Biao Xiong, Xuanrui Zhu, Shuaiqi Chen, Boyu Tolba, Amr Zhang, Xingguo Sensors (Basel) Article Internet of Things (IoT) finance extends financial services to the whole physical commodity society with the help of IoT technology to realize financial automation and intelligence. However, the security of IoT finance still needs to be improved. Blockchain has the characteristics of decentralization, immutability, faster settlement, etc., and has been gradually applied to the field of IoT finance. Blockchain is also considered to be an effective way to resolve the problems of the traditional supply chain finance industry, such as the inability to transmit core enterprise credit, the failure of full-chain business information connections and the difficulty of clearing and settlement. Supply chain finance allows the strongest enterprise in the supply chain to apply for credit guarantee from the bank to obtain bank loans, and use the funds for circulation in the supply chain to ensure that each enterprise in the whole supply chain can obtain working capital to realize profits, so as to maximize common interests. In this paper, a financial management platform based on the integration of blockchain and supply chain has been designed and implemented. Blockchain is used to integrate supply chain finance to synchronize the bank account payment system, realize the automatic flow of funds, process supervision and automatically settle account periods based on smart contracts. The four functional modules of the system are designed using unified modeling language (UML), and the model view controller (MVC) architecture is selected as the main architecture of the system. The results of the system test show that the proposed platform can effectively improve the system security, and can use the information in the blockchain to provide multi-level financing services for enterprises in supply chain finance. MDPI 2023-01-29 /pmc/articles/PMC9919595/ /pubmed/36772538 http://dx.doi.org/10.3390/s23031497 Text en © 2023 by the authors. https://creativecommons.org/licenses/by/4.0/Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/4.0/).
spellingShingle Article
Liu, He
Yang, Biao
Xiong, Xuanrui
Zhu, Shuaiqi
Chen, Boyu
Tolba, Amr
Zhang, Xingguo
A Financial Management Platform Based on the Integration of Blockchain and Supply Chain
title A Financial Management Platform Based on the Integration of Blockchain and Supply Chain
title_full A Financial Management Platform Based on the Integration of Blockchain and Supply Chain
title_fullStr A Financial Management Platform Based on the Integration of Blockchain and Supply Chain
title_full_unstemmed A Financial Management Platform Based on the Integration of Blockchain and Supply Chain
title_short A Financial Management Platform Based on the Integration of Blockchain and Supply Chain
title_sort financial management platform based on the integration of blockchain and supply chain
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9919595/
https://www.ncbi.nlm.nih.gov/pubmed/36772538
http://dx.doi.org/10.3390/s23031497
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