Security, Transparency, and Traceability: Role of Blockchain in AI-Powered Supply Chain

Abstract

The chapter explores the profound impact of blockchain technology on Supply Chain Management, tracing its historical development across diverse industries. Through its decentralized ledger system, blockchain ensures the integrity of digital transactions via cryptographic encoding, thereby enhancing security, traceability, and transparency within SCM processes. The chapter illustrates blockchain's effectiveness in streamlining supply chain processes. It also examines the challenges in implementing blockchain technology, including scalability issues, regulatory constraints, and cultural and sustainability considerations. Emerging trends in technologies like digital currency and asset tokenization hold promise for further improving cross-border transactions and asset tracking capabilities. The chapter suggests collaboration, leadership commitment, and the development of supportive regulatory frameworks to harness blockchain's full transformative potential.