The Impact of Blockchain Technology on Accounts Receivable Financing Model of Supply Chain Finance-Based on Three-Party Evolutionary Game Perspective

Based on the perspective of evolutionary game theory, this research focuses on the receivables financing model in supply chain finance. The study targets financial institutions, core enterprises, and small and medium-sized enterprises (SMEs), analyzing the impact of blockchain technology on the receivables financing model. The results indicate that the application of blockchain technology can significantly increase the default cost for core enterprises and SMEs compared to their default benefits when accessing the blockchain receivables financing platform. Moreover, upon successful financing, the platform rewards entities choosing to abide by the contract. At this point, the supply chain finance receivables financing system evolves to a stable state where financial institutions choose to connect to the blockchain receivables financing platform, and core enterprises and SMEs choose to abide by the contract.