Blockchain Technology in Supply Chain Management: Opportunities and Challenges for Commerce
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Abstract
Blockchain technology has emerged as a promising solution for enhancing transparency, traceability, and efficiency in supply chain management. This paper explores the opportunities and challenges that blockchain presents for commerce, with a specific focus on its application in supply chain management. The advent of blockchain technology offers unprecedented opportunities to revolutionize traditional supply chain processes. By providing a decentralized and immutable ledger of transactions, blockchain enables real-time visibility and tracking of goods as they move through the supply chain. This transparency not only reduces the risk of fraud and counterfeiting but also enhances trust and accountability among supply chain stakeholders.
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