Blockchain Technology Adoption, and Sustainability Performance of SMEs

Abstract

Small and medium-sized enterprises (SME) companies try to benefit from environmental sustainability and energy conservation in today’s competitive and technologically advanced world by integrating the most recent technologies into their supply chains. Due to blockchain adoption and what the future of blockchains holds for SMEs market, green supply chain management is improving SME market performance. Blockchain technology is a safe distributed ledger that can lower transaction costs, is transparent, fosters distributed trust, and enables decentralised platforms, with the potential to serve as a new base for decentralised business models. Green supply chain management (GSCM) integrates 4R1D’s sustainable environmental processes into traditional manufacturing, operations, and end-of-life management (reduce, reuse, recycle, reclaim and degradable). In order to shed light on the primary existing blockchain applications in SME market performance, as well as the main disruptions and obstacles in the adoption of Blockchain technology, this chapter examines the impact of blockchain technology adoption and green supply chain practices on SME market performance. The chapter employed a systematic review and synthesis of extensive literature as the research methodology, which is the most suitable for the achievement of the objectives of this study. The analysis of literature sources on blockchain technology adoption, green supply chain management were conducted and presented. The results confirmed a positive impact of blockchain technological adoption and green supply chain practices on SMS market performance.