Challenges of Adoption of Blockchain Technology in Supply Chain: An Overview

Abstract

Blockchain Technology (BT) has grown noteworthy attention in recent years. Adoption of these technologies reforms supply chains (SC), produce an improved product quality within a lead time, and provide the customized products to the customer. BT has a characteristic of decentralized transactions and data management that has significant impact on traditional supply chain management. Integration of BT with SC is still in its early stages. Industries and academic research need to know the challenges in the adoption of BT in SC. It requires huge investments to investigate various challenges in adoption of BT in SC. Therefore, the aim of this study is to provide an overview about the challenges in adoption of BT in SC. A literature review has been conducted to find challenges in adoption of BT in SC. This paper recognizes some main challenges. Those challenges are to build trust among the SC members, prepare a policies that governs the implementation of BT in SC, maintain the balance between the transparency and confidentiality of the transaction data, make a hackproof system, enhance the communication within SC system, select a proper product in the early stage of adoption to recover the investment as early as possible, prove provenance of the product and train the people involved in implementing BT in SC. This work discussed potential implications based on challenges and provide platform for adoption of BT in SC.