It is an open source, distributed software platform and cryptocurrency built on the blockchain technology that enables creation of smart contracts.
Published in Chapter:
Blockchain for Supply Chain Management: Opportunities, Technologies, and Applications
Nenad Stefanovic (Faculty of Technical Sciences Cacak, University of Kragujevac, Serbia)
Copyright: © 2021
|Pages: 16
DOI: 10.4018/978-1-7998-3473-1.ch171
Abstract
Over the past decades, digital technologies empowered more efficient, effective and connected supply chains. However, as supply chain complexity continues to increase, organizations face new challenges of maintaining visibility into origin, authenticity, and asset handling. Blockchain technology is considered to be a game-changer for decentralizing infrastructure and building a trust layer for business logic. It is envisioned to be a technology that could drive economy into the next industrial revolution, with new paradigms for doing business in supply chain management (SCM). In this chapter, the various opportunities blockchain provides for SCM, as well as the main technologies including infrastructure and services are discussed. The main applications and benefits of blockchain for SCM are described including smart contracts, payments, transaction recording, dispute resolution, monitoring, and security. We also introduce the multi-layered and cloud-based hybrid blockchain model that combines various data sources, integration, blockchain, and security services.