Enhancing Supply Chain Management with Ethereum 2.0 : Advancement in Blockchain Technology

Abstract

The introduction of viable smart contracts using blockchain technology with Ethereum has greatly impacted the use of supply chain management due to the transparency, automation, and efficiency they have been able to bring. However, decentralized Ethereum was not able to fulfill all demands since it was hampered by high transaction cost, scalability issues and high energy usage. Smart contracts were not able to function properly during real-time supply chain management. But these issues have been dealt with by the introduction of Ethereum 2.0. In this paper, we aim to assess how Ethernet 2.0 can optimize supply chain management by looking into its expected advancements and areas that it can be applied, but most importantly any flaws or limitations that may exist. Furthermore, we also combine AI and IoT with Ethernet 2.0, enabling a range of unaffected supply chain participants to track, decide and enhance their trust with real-time data easily. Finally, by looking into the operations and methodologies of Ethernet 2.0, this research will provide possibility by covering areas of enhanced global supply chain management while also advocating for future areas of implementation and research.