Blockchain and Its Applications in Supply Chain Transparency

Abstract

Blockchain technology is revolutionizing supply chain management by improving traceability, security, and efficiency. It offers a decentralized, immutable solution to challenges like fraud, inefficiency, and limited visibility of product origins. Key features of blockchain include decentralized ledgers, consensus mechanisms, and cryptographic security. Real-world case studies show its success in food, pharmaceuticals, and luxury goods industries. However, widespread adoption faces challenges like scalability issues, high implementation costs, and regulatory concerns. The paper discusses the future of blockchain in supply chain management, highlighting emerging trends like integration with AI and IoT. It provides recommendations for overcoming barriers and maximizing benefits of blockchain for supply chain transparency. The findings suggest that blockchain has the potential to revolutionize supply chain operations, making them more efficient, secure, and transparent in the long term.