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Dianrong Focus
April 2017
Introducing Chained Finance
First Blockchain Platform for Supply Chain Finance
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Dianrong and FnConn recently announced the market launch of Chained Finance, the first-ever blockchain platform for supply chain finance. The new platform leverages advanced financial technology to meet the hugely underserved needs of supply chain finance in China. Supply chain finance companies have been limited by existing technology and, to date, have only served about 15 percent of suppliers needing financial resources. As a result, the vast majority of the 40 million SMEs in China remain unserved. |
Chained Finance enables supply chain finance to deliver needed capital to smaller supply chain suppliers and provide large multinational manufacturers with enhanced visibility and transparency. Chained Finance is initially targeting three major industries: electronics, auto and garment manufacturing. This new platform is expected to help supply chain finance operators potentially triple the number of SME supply chain operators with access to funding in China. |
In Focus
Blockchain
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At Dianrong, compliance and transparency are part of the company’s DNA.
Blockchain is a new and powerful technology that facilitates secure online transactions and presents limitless opportunities, especially within fintech. Basically, blockchain is a decentralized digital ledger that records transactions across many computers and registered transactions within the blockchain cannot be changed or deleted. |
This provides clear and robust verification and auditing of all transactions. Dianrong is a leading proponent of blockchain technology, as evidenced by our participation in the Hyperledger project, which we were the first Chinese P2P company to join in December 2016. At Dianrong, compliance and transparency are part of the company’s DNA. This is why the company is integrating blockchain technology across its entire platform. |
Power of Collaboration
Dianrong & FnConn
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“By using the chained finance platform, every payment, every supply chain transaction, can be more transparent, manageable and easily authenticated” - Jack Lee
“Blockchain is revolutionizing the finance industry and offers seamless solutions to any company operating and financing complicated supply chains,” said Soul Htite, Founder and CEO of Dianrong. “The complexity and scale of supply chain finance has posed major challenges in ensuring adequate funding and efficient operations. “Chained Finance creates a unique ecosystem that will provide supply chains with easier access to funding at competitive rates. In return, supplychain operators will gain greater visibility of their suppliers and the many layers of finance embedded in the process” said Mr. Htite. |
“By using the Chained Finance platform, every payment, every supply
chain transaction, can be more transparent, manageable and easily authenticated,” said Jack Lee, Executive Director and CEO of FnConn, a subsidiary of Foxconn Technology Group, provides loans and financing solutions to suppliers, including Foxconn’s upstream and downstream supply chain. “Chained Finance will provide timely, efficient support to far more suppliers of all sizes. It will also help ensure the timely delivery of products to end customers and improve efficiencies across the entire supply chain,” said Mr. Lee. |
LendIt 2017
New York
| Dianrong executes engaged in lively discussions with attendees of LendIt, a leading fintech conference held in New York City in March 2017. | Topics included blockchain applications, compliance and transparency and the evolution of China fintech. |
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