How Will The Block Chain Change The Future Of The Textile Industry?

Block chain technology is a new generation of technology after the Internet technology. To some extent, the future block chain will be as important as the current Internet to people's lives. Block chain is a new application mode of distributed computing technology, such as distributed data storage, point to point transmission, consensus mechanism, encryption algorithm and so on. Its essence is a decentralized database and has anti-counterfeiting effect.

Block chain technology seems to be tall and far away from textile, but when it develops to a certain extent, it will probably go deep into all aspects of the textile industry and become the answer of the textile industry in the future.

1, tracing the source of products to ensure authenticity.

The characteristics of block chain are centralization, traceability, information symmetry, safety and visibility, which are suitable for the production, operation and trade links of textile enterprises. End-to-end information transparency and absolute authenticity can monitor the whole production process in real time, increase communication efficiency in all links, and trace the origin of products. In the future, when the block chaining technology has developed to a certain extent, traders will look for an order and check it in the database, and we will know which factory yarn is used for this fabric, which weaving factory is dyed, which dyeing factory is dyed, and where to do it after finishing, what is the qualification of these factories?

2, do not run all kinds of proof, foreign trade shorter time and lower cost.

When the block chain technology is mature, all electronic information will be shared in real time in the foreign trade business. Sharing information in real time ensures the efficiency and effectiveness of each link in the logistics process. Enterprises do not need to go to various agencies to run various kinds of certificates, reduce various approval procedures, and effectively reduce the cycle of goods circulation and manpower and material resources.

3, automatic settlement of funds, so that the old Lai no escape.

In the process of settlement, the current way of transaction is generally to pay part of the deposit first, and then after the product comes out, after a period of accounts, the money will be paid, but there is a risk of default on both sides. When the block chain technology is applied, the two sides confirm that after the transaction is completed, when the agreed account arrives, the settlement of funds will be carried out automatically without giving the other party the opportunity to bet on money. Block chain technology can also conduct a comprehensive and comprehensive evaluation of personal credit. The list of dishonest people can be shared by the whole society, so that all "old Lai" can not escape.

In addition, there will be a great possibility that future enterprises' behavior of reconciliation, bills and tax payment will use block chain technology.

4, orders can also be guaranteed, SME financing is no longer difficult.

Under the traditional supply chain finance mode, information is not transparent, which leads to financing difficulties and high costs for SMEs. With the use of block chain technology, the real order and receivables in the enterprise can become collateral for loans, which can greatly increase the financing channels for SMEs and reduce the financing costs of SMEs.

As an important part of Internet technology, block chain technology will inevitably affect the way of production and operation to a large extent. Although the block chaining technology is not yet mature, many applications are only in the theoretical stage, but it will undoubtedly change the future of the textile industry.