ABSTRACT
The implementation of measures to limit electricity consumption in many provinces of China has caused coal prices to rise irrationally, further aggravating the financing problems of small and medium-sized enterprises in the supply chain. Small and medium-sized enterprises lacking funds cannot effectively participate in the green transformation and development of the coal industry, which slows down the sustainable development process of the coal industry. Under the current background of low-carbon advocacy, blockchain technology can reasonably allocate resources and efficiently process information, thereby providing a solution for this financing problem. This paper first proposes a coal accounts receivable financing model based on blockchain technology, then builds a coal accounts receivable financing system dominated by ports through blockchain technology. Finally, the Stackelberg yield–benefit model is used to analyze the income function of each participant in the process of accounts receivable financing. The results show that the use of blockchain technology can reduce the financing condition of financial institutions and improve the maximum income of cooperative enterprises in the chain while solving the financing problems of small and medium-sized enterprises in the coal supply chain. This study provides practical significance and theoretical value for promoting the transformation and upgrading of coal enterprises and accelerating the opening of the sustainable development model of the coal industry.