In recent years, with the wave of financial informatization, massive amounts of financial data have been generated in financial business activities, many of which are closely related to the personal security of financial consumers and even national security. Combined with the existing financial data security issues in China and the shortcomings of traditional factoring financing models, based on the Ethereum blockchain technology, literature collection method and theoretical analysis method are used to create an Ethereum-based factoring financing (including contract auction) model and the corresponding algorithm is designed according to its message transmission diagram. Finally, the online integrated development environment RemixIDE and the high-level smart contract language Solidity are used to implement the contract auction algorithm, and the validity and applicability of the model constructed are comprehensively analyzed.