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...
| Main Authors: | , , , , , , |
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| Format: | Article |
| Language: | English |
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MDPI AG
2023-01-01
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| Series: | Sensors |
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| Online Access: | https://www.mdpi.com/1424-8220/23/3/1497 |
| _version_ | 1797623219358793728 |
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| author | He Liu Biao Yang Xuanrui Xiong Shuaiqi Zhu Boyu Chen Amr Tolba Xingguo Zhang |
| author_facet | He Liu Biao Yang Xuanrui Xiong Shuaiqi Zhu Boyu Chen Amr Tolba Xingguo Zhang |
| author_sort | He Liu |
| collection | DOAJ |
| 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. |
| first_indexed | 2024-03-11T09:25:34Z |
| format | Article |
| id | doaj.art-bc2bd961e849472d9f6b93939fcbc9fe |
| institution | Directory Open Access Journal |
| issn | 1424-8220 |
| language | English |
| last_indexed | 2024-03-11T09:25:34Z |
| publishDate | 2023-01-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Sensors |
| spelling | doaj.art-bc2bd961e849472d9f6b93939fcbc9fe2023-11-16T18:01:57ZengMDPI AGSensors1424-82202023-01-01233149710.3390/s23031497A Financial Management Platform Based on the Integration of Blockchain and Supply ChainHe Liu0Biao Yang1Xuanrui Xiong2Shuaiqi Zhu3Boyu Chen4Amr Tolba5Xingguo Zhang6School of Communication and Information Engineering, Chongqing University of Posts and Telecommunications, Chongqing 400065, ChinaSchool of Communication and Information Engineering, Chongqing University of Posts and Telecommunications, Chongqing 400065, ChinaSchool of Communication and Information Engineering, Chongqing University of Posts and Telecommunications, Chongqing 400065, ChinaSchool of Software, Dalian University of Technology, Dalian 116024, ChinaSchool of Communication and Information Engineering, Chongqing University of Posts and Telecommunications, Chongqing 400065, ChinaDepartment of Computer Science, Community College, King Saud University, Riyadh 11437, Saudi ArabiaDepartment of Mechanical Systems Engineering, Tokyo University of Agriculture and Technology, Nakacho Koganei, Tokyo 184-8588, JapanInternet 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.https://www.mdpi.com/1424-8220/23/3/1497blockchainsupply chainfinancial managementInternet of Things finance |
| spellingShingle | He Liu Biao Yang Xuanrui Xiong Shuaiqi Zhu Boyu Chen Amr Tolba Xingguo Zhang A Financial Management Platform Based on the Integration of Blockchain and Supply Chain Sensors blockchain supply chain financial management Internet of Things finance |
| 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 | blockchain supply chain financial management Internet of Things finance |
| url | https://www.mdpi.com/1424-8220/23/3/1497 |
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