Integration of Blockchain for securing the transactions in Supply Chain Management

Integration of Blockchain for securing the transactions in Supply Chain Management

연구 분야: Cryptography

학회: Multimedia Tools and Applications

Blockchain is a progressive technology in many applications, such as supply chain management. Blockchain technology is gaining attention due to its transparency, decentralisation, and high-level security features. In the beginning, blockchain technology was developed for cryptocurrencies like Bitcoin, Ethereum, etc.; later, it was used in various applications like supply chain management and healthcare. Blockchain plays a central role in the re-engineering process by optimising workflow operations. Traceability plays a crucial role in supply chain management. Traditionally, these solutions were based on a centralised architecture, which does not provide tamper-proof data sharing. The primary issue faced in this approach is that different supply chain users use systems containing distinct features and complexities. To overcome these challenges, a decentralised process was initiated. In this work, we develop a supply chain management system using blockchain technology and Radio Frequency Identification (RFID) technology. This system has the potential to realise traceability with trusted information across the entire supply chain, thereby effectively guaranteeing safety by gathering, transferring, and sharing the relevant data in the production, processing, warehousing, distribution, and selling stages. It also provides transparency for better management of products by providing access to information about the supply chain by trading partners, shareholders, consumers, and regulatory bodies. The proposed system provides data management, and the lurking algorithm guarantees data security. This approach can simplify the traceability of products and can be scaled for industrial use.