Blockchain for SME Finance: Call for Empirical Testing

20 Pages Posted: 29 Apr 2021

See all articles by Mariya Yesseleva-Pionka

Mariya Yesseleva-Pionka

Excelsia College; International Council for Small Business

Date Written: April 28, 2021


For many countries worldwide, small and medium enterprises (SMEs) are the backbones of their economy, more than half of the overall world population is working for SMEs. Historically, research studies on SME lending have emphasised that SMEs are less transparent and have an information advantage in comparison to external lenders as many businesses are owner-managed and privately owned. Distributed Ledger Technology (DLT), also known as a blockchain, opens new opportunities to SMEs. It could be used as a network system to exchange financial and non-financial data for assessing SMEs' creditworthiness. Hence, blockchain could bridge the information/data gap between lenders and SMEs and enhance the overall financing speed. This article provides a theoretical overview of the policy developments for blockchain and DLTs with the final recommendations for empirical testing.

Keywords: Blockchain, SMEs, access to funding, DLT, policy, ISO, Standards Australia, SG2 use cases, regulation

JEL Classification: G18, G21, G38, L26, M13, M21

Suggested Citation

Yesseleva-Pionka, Mariya, Blockchain for SME Finance: Call for Empirical Testing (April 28, 2021). ADBI Working Paper Forthcoming, ADB-IGF Special Working Paper Series “Fintech to Enable Development, Investment, Financial Inclusion, and Sustainability”, Available at SSRN:

Mariya Yesseleva-Pionka (Contact Author)

Excelsia College ( email )

69-71 Waterloo Rd
Macquarie Park
Sydney, 2113


International Council for Small Business ( email )

2201 G. Street, NW
Funger Hall Suite 315
Washington, DC 20052
United States


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