Study on the Credit Evaluation Algorithm for International Trade Enterprises Utilizing Blockchain Technology

Abstract

To address many issues with conventional credit assessment techniques, this article suggests an international credit evaluation system for trading firms built on blockchain technology and a grey correlation model. Blockchain technology improves the transparency and security of data processing with its distributed ledger and anti-tamper feature. Combined with ring signature technology, users can maintain anonymity during the evaluation process, protecting user privacy and preventing information leakage. The grey correlation model can still provide effective evaluation results in the case of incomplete data or insufficient information by analyzing the correlation between indicators. This paper constructs an evaluation index system containing three main dimensions, namely corporate characteristics, corporate credit, and corporate finance, and verifies the effectiveness of the evaluation system by analyzing the data of five representative international enterprises during the period from 2013 to 2023. The results show that the system can accurately reveal the comprehensive strength and credit risk, provide valuable references for the international trading industry and regulators, and improve credit management and risk control ability in international trade. The research is not only of great significance in theory but also shows a broad prospect in practical application, providing a scientific and reliable evaluation tool for credit management of international trade enterprises.