In recent years, blockchain technology has attracted substantial interest for its capability to transform supply chain management and finance. This paper employs evolutionary game theory to investigate the application of blockchain in mitigating financial risks within supply chains, taking into account the technology’s maturity and the risk preferences of financial institutions. By modeling interactions among financial institutions, small and medium enterprises (SMEs), and core enterprises within the accounts receivable financing framework, this study evaluates blockchain’s impact on their decision-making and its efficacy in risk reduction. Our findings suggest the transformative potential of blockchain in mitigating financial risks, solving information asymmetry, and enhancing collaboration between financial entities and SMEs. Additionally, we integrate smart contracts into supply chain finance, proposing pragmatic procedures for their deployment in real-world contexts. Via a detailed examination of blockchain’s maturity and financial institutions’ risk preferences, this research demonstrates the primary determinants of strategic decisions in supply chain finance and underscores how blockchain technology fosters system stability using risk mitigation. Our innovative contribution lies in the design of smart contracts for the ARF process, rooted in blockchain’s core attributes of security, transparency, and immutability, thereby ensuring efficient operation and cost reduction in supply chain finance.

中文翻译：

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基于区块链的供应链金融效用优化：基于进化博弈和智能合约的方法

近年来，区块链技术因其改变供应链管理和金融的能力而引起了广泛关注。本文采用演化博弈论来研究区块链在缓解供应链金融风险方面的应用，同时考虑到技术成熟度和金融机构的风险偏好。本研究通过对应收账款融资框架内金融机构、中小企业和核心企业之间的互动进行建模，评估区块链对其决策的影响及其降低风险的功效。我们的研究结果表明，区块链在降低金融风险、解决信息不对称以及加强金融实体与中小企业之间的合作方面具有变革潜力。此外，我们将智能合约整合到供应链金融中，提出了在现实环境中部署智能合约的务实程序。通过对区块链成熟度和金融机构风险偏好的详细检查，本研究展示了供应链金融战略决策的主要决定因素，并强调了区块链技术如何通过风险缓解来促进系统稳定性。我们的创新贡献在于为ARF流程设计智能合约，植根于区块链安全、透明、不可篡改的核心属性，从而保证供应链金融的高效运营和成本降低。