Splitting the warehouse receipt into an ownership chain and a delivery-right chain, then anchoring each transfer with SM2 signatures and SM3 timestamps, lets banks check before lending whether the future delivery right is already pledged. Duplicate pledging and one-cargo-multiple-sales are blocked at the title-confirmation stage.

Splitting the receipt into pledge and delivery rights, each registered separately with a browser-side SHA-256 fingerprint and timestamps written to a judicial blockchain, blocks double-pledging by checking the chain before any new pledge.