Guangdong completes supply chain financing with blockchain for the first time, technical support provided by Alipay

Guangdong’s first supply chain guarantee financing using blockchain technology was launched. The financing was provided by Alipay with technical support, Guangdong Provincial Investment Re-guarantee Co., Ltd., a subsidiary of Guangdong Yuecai Investment Holding Co., Ltd., and Guangdong Caicai Commercial Factoring (Shenzhen) Co., Ltd. provided guarantees. Guangdong Juyuan Construction Co., Ltd. and its upstream suppliers, Complete contactless financing on the ant double link, quickly activate cash flow, and resume production and work. Ant Double Link uses blockchain technology to support SME suppliers to apply for loans from banks using receivables from large enterprises to help them quickly cope with the shortage of funds. Recently, as a high-quality case of digital finance in the fight against epidemics, this application has been recommended to the world by the United Nations.