Online Barter Trade Model Based on Traceability by Blockchain Technology

In recent years, in order to effectively solve the problems of enterprises inventory backlog and capital shortage, and maximize the use of resources, China's online barter trade has begun to flourish, and at the same time, a new supply chain model derived from the traditional supply chain - the barter supply chain. In view of the quality, integrity, supervision, evaluation and other factors in the barter trade, credible barter trade has become a focus of attention in the industry. This research adopts blockchain technology and digital identity verification to conduct an in-depth analysis of the entire process of barter trade to ensure that the source, circulation route, and final destination of the items can be accurately traced. On this basis, we propose a system architecture model of blockchain-based barter supply chain, which helps enterprises use barter more effectively to increase their value and market competitiveness by building a traceable barter platform. The platform uses blockchain technology to store barter information, uses digital identity verification technology to clarify and protect the identities of transaction participants, ensure the security and reliability of transactions, and uses the characteristics of blockchain decentralization, traceability, and smart contracts to record and track transaction behaviors. Through an in-depth study of the current barter platforms and actual cases, we found that traceable online barter transactions provide a higher level of transparency, reducing the imbalance of information and instability in transactions, which will help them to establish reliable business relationships more easily; the trust mechanism generated by blockchain also helps enterprises to supervise more efficiently.