BLOCKCHAIN AND SMART CONTRACTS: FINANCIAL IMPACTS ON GLOBAL SUPPLY CHAINS

Abstract

This research paper aims to investigate the applications of blockchain technology and smart contracts in managing global supply chains, as well as their financial and economic implications. The study addressed the concept of supply chain management and the technologies of blockchain and smart contracts, with a focus on their applications in validating and tracking transactions, facilitating the flow and storage of information in international trade, supporting customs, shipping, and container management operations, and increasing transparency in commercial transactions. The most prominent digital supply chain platforms based on blockchain were also presented. The results showed that the application of these technologies contributes to reducing costs and fees, improving cash management, increasing transparency and reducing risks, and enhancing the economic and operational efficiency of exporting and importing companies. It also provides administrative bodies with the ability to track and verify transactions instantly, which supports more accurate financial and strategic decision-making.