RETRACTED ARTICLE: Blockchain-based intelligent contract for factoring business in supply chains

Kangning Zheng (), Zuopeng Zhang () and Jeffrey Gauthier ()
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Kangning Zheng: Zhejiang Wanli University
Zuopeng Zhang: University of North Florida
Jeffrey Gauthier: University of Maine

Annals of Operations Research, 2022, vol. 308, issue 1, No 29, 777-797

Abstract: Abstract Factoring business, an important aspect in the supply chain finance field, has significant potential in adopting blockchain-based intelligent contract technology. Based on the existing theories of factoring business in supply chains, this paper conducts a coupling analysis between blockchain technology and supply chain factoring business. Specifically, we propose the application scenarios of blockchain-based intelligent contract technology in the supply chain factoring business from three aspects: the division and transfer of creditors’ rights certificate, the factoring financing of upstream suppliers, and the due payment of core enterprises, and elaborate their implementation processes. Furthermore, from a game theoretical perspective, we analyze the mechanism of the key technology implementation of the intelligent contract to verify whether the nodes on the blockchains will follow the relevant protocols to automatically execute them. Finally, we conduct a three-way game analysis of the supply chain factor financing process and obtain an equilibrium solution based on the principle of utility maximization, which highlights the optimization effect of the intelligent contract technology on the decision-making behavior of individual entities in the supply chain.

Keywords: Blockchain; Supply chain; Factoring; Intelligent contract; Intelligent factoring; Game theory (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (2)

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DOI: 10.1007/s10479-020-03601-z

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