In bulk trade, warehouse-receipt pledge finance has long stalled on double-pledging and murky title. Paper receipts get endorsed more than once, and fake warehouse slips are not unheard of. A digital receipt breaks this only if title is made irreversible first — not by simply putting it on a chain.

The method: at issuance the warehouse system computes a SHA-256 fingerprint of the receipt and writes it together with the lot, storage slot and inspection number. Every later move — buyer payment, bank pledge, release — appends a signature to that fingerprint, building a hash chain that only grows.

Link that chain to the Credit Reference Center receivables-financing registry and the bank's risk desk can pull it directly. Underwriting used to lean on financials and relationships; now it reads whether the chain shows a duplicate pledge and whether the bank is the current pledgee. A decision that took days compresses to hours.

SNSUC's resale flows are inherently multi-hand, so tying SHA-256 fingerprints to the CRC registry gives every lot a network-wide title ID. For small traders it means a receipt can, for the first time, be pledged to a bank like hard currency.