Blockchain in Supply Chain: Journey from Disruptive to Sustainable

Abstract

``Whereas most technologies tend to automate workers on the periphery doing menial tasks, blockchains automate away the center. Instead of putting the taxi driver out of a job, blockchain puts Uber out of a job and lets the taxi drivers work with the customer directly.'' - Vitalik Buterin, co-founder Ethereum and Bitcoin Magazine Blockchain has evolved to be the most discussed and potentially disruptive technology and is expected to become a driving force for technology-based business innovations. Although blockchain is still in infancy in terms of technological maturity, experimental adoption and customization are already in progress. One of its' early adopters, Supply chain Management is expecting to find fascinating solutions for its most pressing issues like confidentiality and trust, along with those of the inability to share information between supply chain partners, limitations of IT systems and lack of data standards. This paper is an attempt to seek the applicability of blockchain technology in the business process of Supply Chain Management. The Paper provides a comprehensive map for technical feasibility of a blockchain based supply chain through the distributed concepts including proof of work, consensus, and smart contracts.