A blockchain-based architecture and smart contracts for an interoperable Physical Internet (original) (raw)
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2019
The concept of openness and decentralization is one which people have desired since years. Everyone wants transactional data to be transparent. When sensitive data are on the hand of third-parties, it may be susceptible to frauds and misuse. The advent of blockchain, a decentralized technology in cryptocurrency, has revealed an appropriate solution to address such issues. Blockchain maintains the integrity of a transaction. It not only secures from tempering and fraud but also ensures transactions are verifiable without involvement of an intermediate. Therefore, blockchain is applied to different decentralized domains that require trusted computing. Supply chain is one of these domains, that can benefit from trustworthy decentralized transactions initiated by multiple stakeholders. This paper presents a general model for a blockchain enabled supply chain. We have implemented this model using three smart contracts on an Ethereum platform. We have provided evidence of our verification...
IAEME PUBLICATION, 2023
The rise of the Internet of Things (IoT) and blockchain technology has ushered in a new era of supply chain management, offering unprecedented opportunities to enhance transparency, traceability, and trust within complex supply networks. This paper explores the practicability of leveraging these emerging technologies to create a seamless, interconnected system that can address the challenges faced by traditional supply chain paradigms. The landscape of modern supply chain management has undergone a profound transformation, driven by the rapid advancements in digital technologies. Integrating IoT sensors and blockchain-based platforms can revolutionize the way supply chain data is collected, shared, and verified. While the benefits of these technologies are widely recognized, the practical implementation and seamless integration within existing supply chain systems remain a crucial challenge. Key findings from the literature review highlight the pivotal role of blockchain in addressing the limitations of centralized supply chain systems, such as the lack of transparency and trust. The application of IoT and blockchain in supply chain management promises realtime monitoring, end-to-end visibility, and secure data sharing among all stakeholders. By combining these technologies, organizations can create a decentralized, trustless, and tamper-evident system that can enhance supply chain resilience and responsiveness. The challenges of establishing co-opetition among supply chain actors, integrating IoT systems for data quality, and reforming regulatory and legal frameworks must be addressed to fully realize the benefits of this integrated approach.
Supply Chain Management Journal, 2020
In recent years, blockchain technology has emerged as a technology that has been mentioned frequently and has the potential to affect industries in general. In today's Internet world, data transfer is made in many areas. On the other hand, Blockchain technology is a distributed database that enables us to transfer assets that we attach value to besides this data. With the Bitcoin digital currency proposed in 2008 by a secret author nicknamed Satoshi Nakamoto, the existence of a new international currency began to be mentioned in the world. Blockchain technology initially affected the financial industry, but later on education, supply chain, logistics, real estate, etc. It has started to affect such sectors comprehensively. However, it is inevitable that blockchain technology will affect the supply chain and logistics sectors with the use of smart contracts. Therefore, in our study, analyzes and roadmaps for the use of blockchain technology in supply chain and logistics activities with smart contracts have been drawn. In addition, the platforms where blockchain technology can be designed with smart contracts have been identified. Technical specifications of blockchain technology have been extracted for smart contracts to be designed with experts in the blockchain field. The importance weights of these technical features were determined and the necessary evaluations were made.
Blockchain-based Supply Chain System
International Journal of Scientific Research in Computer Science, Engineering and Information Technology, 2020
In today's world, blockchain-based systems are in demand across various industries, especially in transportation and supply chain, because of its secure, trusted, and decentralized network as well as more efficient than the traditional methods. However, the traditional ways these days are facing a lot of issues and challenges because of the complex and less secure network. Blockchain network integration overcomes the problems faced by traditional methods across industries. The Blockchain integrated network provides benefits such as a reduction in cost, scalability, improve efficiency by connecting the links between the flows, increase Transparency, the trace of the product. Although the blockchain-based systems provide various benefits, due to lack of knowledge about this technology, the implementation rate is low. In this work, it highlights the distinction between the traditional transportation and supply chain as well as Blockchain network-based transportation and supply chain and the benefits of implementing Blockchain in different sectors such as health care, insurance, food industry, retail. This work highlights the issues and challenges faced by the industries, by using the traditional methods as well as the solutions to the problems provided by the blockchain network-based systems to those industries. This work helps the people to understand the benefits of blockchain network-based systems in their respective industries as well as execute it to improve the Transparency, efficiency, and security of altogether system.
Blockchain technology as a new driver in supply chain
Transportation Research Procedia, 2021
Processes associated with the transformation of inputs (raw materials, components) into outputs (goods, finished products) and their transport to the place of consumption are an essential part of the functioning of today’s society. These processes are becoming more complex with the gradual globalization. As the complexity of the supply chain increases, so does the risk of disruption. There are problems such as a lack of information on the origin of the products, a lack of real-time information and, with that, a problem with tracking shipments. With a large number of documents, the risk of fraud and forgery also increases. Due to the large number of stakeholders in logistics chains, the level of transparency is being lost. One possible solution to eliminate the risk of supply chain complexity is to integrate blockchain technology into the supply chain. Thanks to properties such as distribution, immutability, transparency, blockchain can have great potential to solve the problems of t...
Digital Supply Chain Management Ecosystem Powered by Blockchain Technology
2021 IEEE Asia-Pacific Conference on Computer Science and Data Engineering (CSDE), 2021
Most of the leading companies of the world are investing heavily in a computerized system to maintain their supply chain management. From collecting manufacturing equipment all the way to final delivery, products are being tracked by supply chain management software. Supply chain institutions also use their own separate software to maintain confidentiality. Despite this huge investment in digitizing the supply chain system, complete visibility of a product at any given time is not fully achieved. Quality issues, information mismatch, slow cash flow is still hampering the whole supply chain management and financing ecosystem. Companies involved in a supply chain maintain their own databases and the same information might get altered in different data storage or might as well contain redundant or missing information. This situation can create conflicts between parties involved in the supply chain. Thus protecting authentic information throughout the supply chain management still holds a huge challenge along with maintaining the quality of products. Knowing all the information in real-time such as location, ownership status, product status etc. within the involved parties is still not fully attained by the existing systems. As all parties of a supply chain system have their own standalone software, realtime communication amongst this software developed in different platforms using different technologies is not relatively feasible. By taking advantage of this situation, other illegal parties can inject counterfeit products in the supply chain. This can be a significant threat not only to the company's revenue but also to its public image. In this paper, we propose a thoughtful framework to implement a unique decentralized ecosystem powered by the new emerging innovative technology called blockchain for the whole supply chain system.
Blockchain Applications in Supply Chain
Blockchain is a technological concept which evolves from the first cryptocurrency, Bitcoin, and disrupts constantly enlarging areas of economy. The concept of blockchain is developing, and while the future of Bitcoin remains unclear (as it is for the most elements of the economy) it is evident that the blockchain holds enormous potential for large-scale improvements. However, being a technology that could decrease significance many of today's large global corporations, institutions and power structures which have keen interest in preserving established hierarchies, its potential could well remain unexploited. This paper aims to introduce and present the concept of blockchain and its current applications in logistics and supply networks. Blockchain technology promises overpowering trust issues and allowing trustless, secure and authenticated system of logistics and supply chain information exchange in supply networks. The new implementations within supply chain are shifting from blockchain to a wider notion of distributed ledger technologies. Paper presents description and rationale behind current and possible future applications of blockchain in logistics and supply chain.
Blockchain: Revolutionizing the Global Supply Chain by Building Trust and Transparency
Introduction The history of Supply Chain Management has evolved since its’ roots in the early 1900s. From improving labor processes of basic material handling and freight transportation, to more sophisticated approaches of balancing cost and efficiency trade-offs, the concept of a supply chain is no longer siloed. It requires integration of supplier-customer relationships, process synchronization, and data harmonization in a complex, dynamic network that is susceptible to vulnerabilities in a global environment. Critical processes to this relationship include real-time communication, collaboration, trust, and transparency that yield mutually beneficial outcomes and competitive advantage. In today’s world, there is a growing prevalence in leading firms advancing toward the adoption, development and implementation of Blockchain technology as a backbone of business operations. This case dives a bit deeper into Blockchain, a novel technology with the strong potential to revolutionize the Global Supply Chain. The goal of this analysis is to discuss: 1) the key technical and economic aspects of Blockchain, 2) the current Blockchain innovators, barriers, and obstacles to Marketplace acceptance, 3) the business case for Blockchain, and 4) future applications and implications of Blockchain technology.
Blockchain Enabled Supply Chain Management
Blockchain technology has the potential to create new avenues for Economic and Social systems. Blockchain enabled supply chain solutions have drastically proven to reduce cost and efficiency in supply chain industry. The complexity of Supply chain management which helps to create and distribute goods is very high. The supply chain spans over numerous stages with long time duration involving different geographical locations and large number of invoices and payments, people and entities based on the nature of the product involved. The blockchains are perceived to bring huge transformations in the current supply chain and logistics industry which are complex and transparent. This paper is organized as Section I-Introduction, Section II-Blockchain in Supply chain, Section III-Elements of Blockchain affecting Supply chain, Section IV-How Blockchain revolutionizes Supply chain, Section V-Results,Section V1-Conclusion.
Blockchain Technology in Supply Chain
The technological changes in recent years have played a major role in changing the rules in business life. After technological innovations such as autonomous tools, the Internet of Things, and industry 4.0, the new issue that has emerged with crypto money today is Blockchain technology. A blockchain technology is a peer-to-peer digital ledger of transactions that may be publicly or privately distributed to all users and therefore is said to be decentralized and distributed. The most important feature that distinguishes block-chain-based technologies from other technologies is that it has a special algorithm without being connected to any center. Therefore, this technology makes a significant difference in supplying fast, secure and accurate information flow among supply chain members. Reducing the costs and time that arise in the supply chain, it provides significant advantages to enterprises such as the transparency of the operations performed. The purpose of this study is; to expl...