The emerging blockchain technology is believed to be a disruptive innovation in the fields of both supply chain management and financial management. Yet, little is known on the interaction of the two domains. In this paper, we conducted a thematic literature review in the novel field of blockchain and supply chain finance (SCF), which is based on 52 papers published from 2017 to 2021 in academic journals, proceedings and books. Based on thematic analysis, the current status of this field is concluded and presented in this research, including the challenges in traditional SCF, factors influencing blockchain adoption in SCF, blockchain-based SCF solutions, and the blockchain adoption mechanism and system design in SCF. Furthermore, a conceptual framework of blockchain adoption in SCF is developed, which combines the emerged themes. Finally, three future research directions are proposed for further research, including cost optimization of blockchain adoption in SCF, risk management of blockchain operations in SCF, and blockchain and sustainable SCF. This research presents a timely and useful summary on existing research and points out the future research directions on blockchain and SCF.

Considering carbon emission cost and consumer loyalty, this paper establishes a three-level multi-channel supply chain composed of the leading manufacturer, the retailer, and the consumer and builds a multi-channel supply chain with centralized decision-making and decentralized decision-making modes, and the optimal decision-making under both decision-making modes is solved. The study found that the carbon emission reduction level of multi-channel centralized decision-making is better than that of decentralized decision-making under the same carbon emission cost, and centralized decision-making can improve the carbon emission reduction level. Manufacturers open a direct channel to help reduce carbon emissions and need to consider the cost of emission reduction in their channel decisions. Consumer loyalty also directly impacts channel decisions. Only when carbon emission costs and consumer loyalty are within a reasonable range can new direct sales channels be opened to bring in new profits. Simultaneously, the total profit of the supply chain is greater than that of decentralized decision-making, but the double marginal utility of both parties decreases with the increase in carbon emission costs.