The Opportunities And Challenges Of Blockchain Adoption In Supply Chain Management

Blockchain and its related technologies start to present the business values recently. The purpose of this study is to analyze blockchain adoption within the field of supply chain management by looking at companies that have already put blockchain technology into practice. Before looking at blockchain applications, a basic understanding of blockchain technology is provided. Blockchain was first introduced to the public in 2008 by Satoshi Nakamoto, whose identity is kept secret, released the whitepaper "Bitcoin: A Peer to Peer Electronic Cash System." Since then, fascination and doubt have grown exponentially will Blockchain technology, and with cryptocurrencies in general. Blockchain is the foundation technology of cryptocurrencies. It is a shared ledger that cannot be altered and facilitates the process of transactions and tracking assets in a business network. Since blockchain technology is relatively new, there is much to be looked at with thinking about its impacts, good or bad, on the field of supply chain management. This research investigates the challenges that companies will face and potential opportunities when adopting blockchain adoption. A case study approach was utilized in this study. Overall, the research question is What are the opportunities and challenges of blockchain adoption in Supply Chain Management? This research conducts a case study of blockchain adoption within real companies. Different effects of blockchain on various aspects of supply chain management, such as quality, efficiency, traceability, are discussed and analyzed.