As a highly disruptive emerging technology, blockchain technology could provide innovative solutions for supply chain financial risk control. Based on the panel data of supply chain financial companies from 2017 to 2020, PSM-DID method is used to study the impact of the application of blockchain technology on the credit risk of supply chain finance. The results show that blockchain technology can significantly reduce the financial credit risk of supply chain. Therefore, enterprises can actively introduce blockchain technology and make use of the technical advantages of blockchain to solve credit risk problems.