A Review On Blockchain Based Supply Chain Systems

Abstract

Blockchain has offered solutions to many problems through its core principle of decentralization and distributed nature. Some of the fields in which these can be seen are Finance, Supply Chain, Healthcare, Real Estate etc. Among these, blockchain has transformed the functioning of the supply chain, increasing efficiency, transparency and security. Blockchain has allowed creation of an immutable track and trace system from sourcing of raw materials to the delivery of finished products. It has streamlined the administrative process leading to cost saving and faster processing time. Various solutions have been developed to tackle the problems faced in the supply chain industry solving one or multiple problems. This paper aims to assess the main solutions proposed and evaluate their advantages and disadvantages.