Blockchain for the Supply Chain: What Is It? Where Is It Being Used?

Abstract

We describe many leading blockchain supply chain projects in shipping, trucking, grocery, pharmaceuticals, retail, mining and information technology. After an explanation of blockchain technology and terms, we explain how hashing algorithms provide security to blockchains. Blockchains allow individual items or lots of items to be tracked for traceability and provenance. This also helps protect against counterfeits and deters theft. Non-Fungible Tokens can be used to track individual products, and ISO is developing such a standard. Universal Serial Numbers are necessary to ensure all parties are referring to the same individual item.