According to the “Investigation Report on SME Financing Report” issued by the National Federation of Industry and Commerce in February 2010, in the decade of 2001-2010, more than 80% of the credit funds of national-owned banks were invested in large enterprises, and only 20% of the credit funds were issued to the SMEs. Compared with the annual contribution of SMEs to GDP of more than 65%, the support for SMEs is very weak, and it can be said that it is almost unsupported.
However, in recent years, the situation has improved under the full attention of the country. According to the statistics of the China Banking Regulatory Commission, by the end of 2015, the total amount of loans used by banking financial institutions for small and micro enterprises was RMB 2.35 billion, compared with the total stock of banking loans RMB 9.58 billion, small and micro enterprise loans accounted for only 24.5% of total bank loans.
This set of data is also a portrayal of the long-term real experience of SMEs in China’s GDP contribution. Indirect financial methods cannot meet the needs of SMEs for financing. Compared with large enterprises, it shows obvious unfair treatment of using financial leverage to promote economic growth and promote business growth.
In this respect, due to the limitations of SMEs’ own development, such as the lack of a basic financial credit system, and the lack of quantifiable and data-based information assets, which have led to a high cost of credit; on the other hand, it is technically lacking a solution that reduces costs while also meeting the self-financing needs of SMEs.
With the development of society and technological advancement, the Internet platform revolution initiated by many Internet companies has brought a new dawn of Internet finance. However, these Internet companies, because of their expertise in the 2C consumer sales model, a lot of technology has been applied to the solution of inclusive financial problems in consumer terminals, such as Alipay’s balance treasure, and changes in investment financial planning for individual consumers.
This kind of application of technological progress is applied to the end consumers, applied to the commercial circulation field, and biased towards the demand side, which have let to a seriously unbalanced structure of the application of supply and demand technology and the use of inclusive financial means in the traditional economic circulation structure of China, and the use of financial leverage at the demand terminal stimulates demand and drives supply. However, the main body of supply, the inclusive financial technology of small and medium-sized enterprises, and the application level of Internet technology are very low. The imbalance between the application of technology and the application of financial technology means are more obvious.
Such a reality makes people who are looking forward to technological progress to solve the development difficulties of small and medium-sized enterprises, such as difficult to finance, expensive to finance, and lack of financial leverage, are once again disheartened.
The birth of Ultiledger is aimed at the financial technology needs of the self-economy represented by small and medium-sized industrial enterprises. Through the support and empowerment of the underlying technical architecture of the blockchain, the self-economy company will have the self-finance ability with low-cost and high efficiency. And then solve the problems of capital and technology demands in the process of its own development, while enjoying the Internet technology, the dividend of the blockchain technology, and the realistic scene, the realization of the application of financial technology, thus enjoying the benefits of inclusive financial achievements.
Let the world have no blind spots for inclusive finance. It has always been the vision of Ultiledger. In the process of rapid advancement of science and technology and the continuous evolution of various subversive technological capabilities, the self-economy as the main body of social value creation should enjoy the at the same time, applying these scientific and technological progress, realizing the equal rights of science and technology, and the financial means of leverage brought by technology also have the right to equal enjoyment, and it is indiscriminate, low-cost and efficient, and will not be treated differently because of your company size.
Making technology and financial technology a universal tool, a force that contributes to the development of the economy and the creation of value, has always been the goal of the Ultiledger team to achieve. And the results of scientific and technological progress can be achieved through Ultiledger The transformation and optimization of the platform has become an incremental tool suitable for the creation of value from the economy. It is the greatest value of this platform and the embodiment of the team’s greatest value.