Exploring the Potential of Blockchain in Supply Chain Management

This paper evaluated the facts and noted that supply chain management might be completely transformed by blockchain technology, that still exist certain obstacles that must be removed before it can be used more extensively. It is probable that more businesses will use blockchain to increase supply chains' effectiveness, transparency, and security as the system develops and matures. Although supply chain management might benefit from the use of blockchain, several obstacles currently stand in the way of its broader acceptance. Since this field is nevertheless in its infancy, many businesses could be reluctant to make an investment in it until it has demonstrated its viability. Furthermore, considering a blockchain infrastructure can only handle a certain amount of interactions, scalability issues also exist. This is the major reasons for which firms are investing in the technology that will help to assure better management of the supply chain.