Research on the Innovation Model of E-commerce Platform Supply Chain Finance Based on Stablecoins: A Case Study of JD.com

Abstract

In the context of the implementation of Hong Kong's stablecoin policy and the slowdown in industry growth, this paper takes JD.com as an example to study the innovative model of e-commerce supply chain finance based on stablecoins to solve the problems of inefficient cross-border settlement and financing difficulties for small and medium-sized enterprises. Through the precise identification of JD.com's business pain points via case studies, the quantitative alignment of "internal capabilities-external demands" using the SWOT-PEST analysis method, and the integration of key data at both the industry and enterprise levels, this study fully demonstrates the feasibility of the stablecoin-based innovative model for e-commerce supply chain finance at JD.com. It provides empirical support for the subsequent model design and industry-wide promotion. This study designs a stablecoin application model driven by blockchain and smart contracts, which can significantly reduce costs and increase efficiency and strengthen risk control in cross-border settlement and financing scenarios. This model provides a replicable innovation template for the industry, which has important theoretical and practical significance for promoting the digitalization and globalization of supply chain finance.