Abstract: The majority of researchers work on the integration of supply chain finance and blockchain from the perspective of qualitative research, but there are few quantitative studies about this. In this study, the impact analysis of the blockchain in supply chain finance is upgraded from the qualitative analysis of the current literature to the quantitative analysis, taking the warehouse receipt pledge as research object. Based on the theoretical framework of the Meta-synthesis system approach, this paper studies the loan and production decisions of enterprises before and after the use of blockchain platform. In addition, the risk measurement method of VaR is used to compare and analyze the loan-to-value ratios decision of banks before and after the use of the blockchain. Finally, an analysis of numerical example is given. The results show that in this context, the use of blockchain has a positive impact on the operation management and ordering decisions of high-profit enterprises, while low-profit enterprises cannot benefit from it. Besides, the ceiling of banks' loan-to-value ratios is increased after the use of the blockchain platform at the same risk tolerance level, which means that borrowing enterprises have the opportunity to obtain more loans. This study has certain reference significance for enterprises and banks to make decisions on using the blockchain technology.

Key words: Meta-synthesis, blockchain, SMEs, loan-to-value ratios, warehouse receipt pledge