Blockchain Technology for Smart Contracts

Abstract

Blockchain industry and smart contract methods are new tools and technologies for changing the supply chain management process. Blockchain gives a distributed ledger procedure, enabling secured and transparent transaction system without middlemen. Smart contracts are self-executing agreements and performed on blockchains. This chapter provides an overview of blockchain technologies and smart contracts methodologies and their character in supply chain processes and management. It explains the benefits of using smart contracts technologies, such as more efficiency, increased transparency, and secured methodologies. The chapter provides the use cases in supply chain processes and management, including trace and track, supply chain financing tools, and counterfeiting prevention methods. Implementation systems such as ways of interoperability, methods of scalability, techniques of security, and processes regulatory compliance are examined and explained. Limitations and challenges are also considered in the discussion. The chapter concludes with a future in smart contracts processes and blockchain methodologies for supply chain management issues.