Blockchain Assembled Supply Chains to Foster Secure Trading Using Distributed Ledger

Abstract

In this paper, we study how to assemble a supply chain with the avail of Blockchain to establish a secure trading environment. Blockchain is distributed, decentralized and a transparent mechanism which makes it suitable to share data on publicly accessible networks such that it can further be verified and audited independently thus maintaining data integrity. This paper suggests that the Blockchain technology offers great potential to foster secure trading using distributed ledger that propounds ingenious platforms as it makes the history of any digital asset unalterable, traceable and transparent. We further study how Blockchain mitigates the subsisting quandary in supply chains, how does it provide an edge over other technologies. The model is proposed to implement the Blockchain manufactured supply chain and it is further explained how it eliminates the challenges faced by the current supply chain management system. Also, challenges to adopting this technology have been discussed in the latter section of the paper.