How Can Small and Medium Enterprises in the Chinese Market Achieve Sustainable Development Goals Through Blockchain?
Poshan Yu, Yao Ge, Kudzai Mandizvidza, James Mulli · Advances in logistics, operations, and management science book series · 2023
Blockchain is one of the most important innovative technologies developed in recent years. It has great potential and capacity to help SMEs prosper due to its decentralized public ledger, which provides a secure infrastructure for transactions between unfamiliar parties without any major influence from a central authority. The use of a decentralized public ledger also makes it possible for SMEs to get credit more easily, thus assisting them in achieving sustainable development. This chapter gives an overview of the functions and applications of blockchain, the situation of SMEs in the Chinese market, and sheds some light on how the Chinese policies on blockchain may affect SMEs. The chapter uses the case of WeBank to show how blockchain technology can accelerate the development of SMEs.