Purpose Blockchain-driven supply chain finance (BCT-SCF) has recently been receiving increased global attention. A number of business programmes have been carried out using this approach, but existing research has rarely focussed on this novel SCF model. This paper aims to fill this gap by proposing a mathematical model to analyse the value of BCT-SCF. Design/methodology/approach First, this paper considers a multi-period two-echelon supply chain consisting of a capital-constrained supplier and a newsvendor-like retailer. Then, two financing channels are proposed. The supply chain actors can either factor accounts receivable (AR) from a bank or obtain financing through a BCT-SCF platform by which AR can be converted into a bill receivable and used to make payment. Further, to investigate the preferences of all actors between the two financing channels, this paper compares the two channels and examines how the degree of financial constraints and the cost of implementing the BCT-SCF model impact the financing preferences of all actors. Findings BCT-SCF model can help a supply chain realise its optimisation both in production and financing efficiency, the preference for the BCT-SCF model increases as the initial capital of supplier and the BCT-SCF platform usage fee rate decrease. Practical implications This research bridges the gap between theoretical analysis of BCT-SCF and its realistic application. The results demonstrate that with the BCT-SCF model, a win-win situation among supply chain actors is possible, which is helpful for the supply chain to choose a more efficient financing channel. Originality/value This research introduces a mathematical model based on the “receivable chain” of CZBank and the model is set in a multi-period supply chain, which is the first time BCT-SCF has been considered as part of a more complex but realistic background setting.

ndenter size effect on the incipient plasticity of Al (001) surface is studied by using the quasicontinuum simulation method. Two cylindrical indenters with the radii 2.5nm and 40nm are used to penetrate the surface respectively, and in displacement-control in steps of 0.02 nm. Results show that the plasticity under the small indenter is activated by discrete dislocation nucleation events, while the plasticity under the large indenter is dominated by a collective dislocation activity. Contact pressure calculations reveal that reversible incipient plasticity occurs under the small indenter, i.e. the plastically deformed surface can completely recover upon withdrawal of the indenter, while the incipient plasticity under the large indenter seems to be irreversible.

The angular dependence of spin textures in thin helimagnetic films is investigated by a Monte Carlo simulation. When an external field is applied at an angle relative to the film normal, we find that the skyrmion states with broken axis-symmetric structure are able to persist over a wide range of angles by changing the spin orientation. In addition, the uniaxial anisotropy is able to stabilize the distorted skyrmions. This behavior reflects the robust topological stability of skyrmion states in helimagnets and favors their application in spintronic devices.

Blockchain-driven supply chain finance (SCF) has become an emerging supply chain financing mode. Compared with the traditional SCF mode, blockchain-driven SCF can shorten the transaction process and provide real trade data that cannot be tampered with, thereby improving the efficiency of capital operation. This article explores the financing and coordination problems of a blockchain-driven supply chain. Based on the three most common supply chain contracts (revenue-sharing contract, profit-sharing contract, and two-part tariff contract), we construct a comparative model of bank credit financing (BCF) and blockchain-driven SCF, discuss the optimal decision-making strategy of the supply chain, and quantitatively analyze the performance of supply chain under each mode. The results show the following: (i) there is a threshold for the usage rate of the blockchain-driven SCF platform; (ii) only when the platform usage rate is lower than the threshold, the blockchain-driven SCF mode which benefits both manufacturer and retailer is a better choice; (iii) the above results always hold if supply chain contracts can coordinate the supply chain in terms of quantity decisions; (iv) the blockchain-driven SCF mode is more efficient for supply chains which are less capital-constrained. This article provides a decision basis for the selection of supply chain financing channels and provides an idea for future research on blockchain-driven SCF.