Transforming supply chain network and logistics using blockchain - a survey

The supply chain is the fastest growing sector of business technology. As it grows day by day, the difficulty of handling vast amount of transaction records thus increases. To effectively manage the supply chain, the participants in the system need to record the price, quantity, location, date, and other pertinent details. In addition to that the asymmetric information transfer in the production process, limitations of the quality monitoring, losses from the counterfeit market and the self-interests of supply chain participants are the major challenges affecting the supply chain management system. Even a small change in the production process can have an enormous smash on the financial growth, trust of the supply chain system. This survey aims to study how blockchain technology helps supply chain networks to overcome these challenges. This survey discusses the current status of blockchain technology and its potential benefits. This survey also discusses various implementations on blockchain-based supply chain networks and how those implementation frameworks solve the challenges in the traditional supply chain system.