Digital receipts carry a SHA-256 fingerprint at title creation; banks fund against a reproducible hash, pulling pledge from T+3 to T+0, freeing turnover on a ¥95.85m NR cargo from 9x to 10x-plus.

On Oct 21, SNSUC announced full technical certification of its digital warehouse receipt system by SHFE, enabling standardized data interoperability and cross-market pledge financing for fuel oil and natural rubber — with the first pilot live at Ningbo Port.

Each batch gets a SHA-256 fingerprint recomputable in the browser; once receipted on-chain and mutually recognized across institutions, banks cut pledge lending from T+3 to T+0, freeing around 1.022 billion yuan against a 50,000-tonne NR parcel.