Construction of Supply Chain Finance Game Model Based on Blockchain Technology and Nash Equilibrium Analysis

Abstract

This paper examines the implementation and effects of blockchain technology in the realm of supply chain finance for small and medium-sized enterprises (SMEs), which are crucial for economic growth but often struggle with financing hurdles. Supply chain finance seeks to boost SME creditworthiness and facilitate financing by linking them with core enterprises in a financing chain. Nonetheless, traditional supply chain finance encounters challenges like credit risk and disjointed information. Blockchain technology, with its robust encryption and decentralized nature, introduces fresh solutions to these problems. The paper begins by assessing how blockchain impacts financing entities and models within supply chain finance, emphasizing its ability to enhance financing efficiency, security, and process simplification, while mitigating risks. Subsequently, using the accounts receivable financing model as an illustration, a game model for supply chain finance in a blockchain environment is constructed. A comparative analysis of game equilibrium points in both traditional and blockchain-based supply chain finance reveals that blockchain strengthens equilibrium formation and augments profits for all stakeholders. Regarding income distribution, the paper acknowledges the ambiguity in financing alliances’ earnings and employs the interval intuitionistic fuzzy TOPSIS principle to refine the interval Shapley value method. A novel income distribution framework is introduced and validated through case studies. However, the research has limitations, including the omission of inventory/warehouse receipt pledge and prepayment financing models, as well as insufficient exploration of alternative game theory and income distribution approaches. Future studies should broaden and refine this research to offer more robust theoretical foundations and practical directions for blockchain-powered supply chain finance.