Token-Based Blockchain Solutions for Supply Chain Strategies

Abstract

Distributed ledger technologies such as the blockchain technology offer an innovative solution to increase visibility and security to reduce supply chain risks. This paper proposes a solution to increase the transparency and auditability of manufactured products in collaborative networks by adopting smart contract-based virtual identities. Compared with existing approaches, this extended smart contract-based solution offers manufacturing networks the possibility of involving privacy, content updating, and portability approaches to smart contracts. As a result, the solution is suitable for the dynamic administration of complex supply chains.