This study aims to estimate the costs of integrating RFID and IoT with blockchain for supply chain management. The study is based on the comparison of two simulation scenarios in a cheese supply chain, the as-is case vs. the integration of the following technologies: blockchain, smart contracts, RFID and IoT. Using the Time-Driven Activity-Based Costing method, costs are allocated for six actors: dairy farm, 3PL, wholesaler and three retailers. In addition, the costs of each player are allocated for each supply chain area: logistics, warehouse and order management. The study shows in which areas and for which actors implementing and integrating different technologies is economically suitable. Different procurement policies are modelled for evaluating the cost impacts for each retailer: Economic Order Quantity, Period Order Quantity and Lot for Lot. Moreover, the costs of non-compliant products are assessed in both scenarios. The results show that specific areas such as warehouse management and logistics in the to-be scenario are not economically optimized, however the entire supply chain cost is optimized. The area with positive economic feasibility for all the participants in the supply chain is order management. The combined use of technologies is economically beneficial when the Economic Order Quantity procurement policy is adopted. Finally, in the to-be scenario the non-compliant products management is economically optimized with economic benefits ranging from 8% to 63%.
Abstract Blockchain can help reduce fraud and improve visibility and traceability in supply chains. It has attracted significant investments in commercial practices, especially in the luxury industry. With the recent upgradation of consumption worldwide, consumers care more about the source of information and the value of products. Will tracing products using blockchain technology help competing luxury brands gain consumer trust and cultivate new competitive advantages? This paper proposes a supply chain model comprising two competing manufacturers selling online through retail or direct channels. It also explores whether and how manufacturers implement traceability strategies, including building traceability systems or joining thirdâparty blockchain platforms, considering blockchain's traceability. The results show that, when only one party adopts the traceability strategy, being the first mover to join a thirdâparty blockchain platform with high traceability is always beneficial for improving the profits of all parties. In this scenario, the blockchain platform should adopt as high traceability as possible. When both parties choose to trace the product source, a winâwin strategy for them is to join thirdâparty blockchain platforms with low traceability. In this scenario, the untraced party is motivated to implement a traceability strategy. Furthermore, if consumer perceptions of traceability are high, an untraced manufacturer can obtain higher profits using the traceability strategy. Otherwise, low consumer perception of traceability leads to lowâprice competition, which is harmful to luxury brands.
The use of blockchain technology can ensure that data remains untampered with once it is on the chain. However, it doesnât guarantee the authenticity of data before it enters the chain. In this study, we developed a three-party dynamic evolutionary game model involving core enterprises, small and medium-sized enterprises (SMEs), and financial institutions. Our findings indicate that a blockchain supply chain (BSC) generates more economic benefits than a traditional supply chain (TSC). We then built a dynamic evolutionary game model between core enterprises and SMEs, which revealed that SMEs are influenced by core enterprises and tend to adopt the action strategies of the latter. Additionally, we developed a dynamic evolutionary game model between core enterprises and financial institutions and compared the reward and punishment mechanisms with the synergy payoff mechanism. In the reward and punishment mechanisms, the game is a zero-sum game, where one partyâs gains come at the expense of the other party. This mechanism has certain limitations and must meet specific conditions to improve the willingness of enterprises to share data. On the other hand, the synergy payoff mechanism enhances the authenticity of shared data by increasing the payoff for participants. When core enterprises play games with SMEs, the probability of core enterprises uploading real data and the distribution ratio of synergy payoff show an inverted U-shape. Similarly, core enterprises and financial institutions have comparable results in allocating synergy payoff. To leverage the synergy payoff mechanism, the distribution proportion of players participating in the synergy payoff should be considered fair. Finally, we validated our findings by simulating the models. If we can use blockchain technology to enhance the mutual trust between enterprises and banks, both banks and enterprises can achieve sustainable development.
Blockchain technology, as a revolutionary technology that has emerged in recent years, holds significant potential for application in supply chain operations. This paper provides a systematic review of blockchain-based supply chain case studies. The existing literature primarily focuses on the food, agriculture, and pharmaceutical sectors, highlighting the advantages of blockchain technology in terms of traceability and transparency. However, there is a limited number of studies addressing the improvement of collaboration efficiency in supply chains, particularly within the realm of information technology enterprises. By conducting semi-structured interviews, we present a case study of Lenovo, a leading enterprise utilizing blockchain technology, to elucidate the advantages of using blockchain technology. Subsequently, it proposes a conceptual model for a blockchain-based information collaboration system and discusses the potential applications of blockchain technology in supply chain collaboration. Our study contributes to the existing work on blockchain applications to enhance supply chain collaboration.
Amandine Herbe, Zarah Estermann, Valentin Holzwarth, Jan vom Brocke
Distributed Ledger Technology (DLT) refers to multi-party systems that enables saving encrypted data across a peer-to-peer network of nodes, without central authority. While DLT applications have been mainly studied in finance, we conduct empirical research on DLT application in supply chain management, combining theory testing and theory elaborating case research. Applying the Theory of Affordance Actualisation, we identify five DLT affordances: (1) verify product origin and history, (2) exchange data on digital product models, (3) track and trace productsâ logistics, (4) simplify supply chain finance, and (5) automate payments. We identify and evaluate these affordances and also outline how these affordances can be actualised. We contribute to the discourse of DLT value creation and provide practical guidance to assess DLT potential in supply chains. We integrate our findings into the academic discussion on collaboration in viable, intertwined supply networks.
Over the recent years, blockchain, a digitalization phenomenon, has leveraged its superior features to remodel the relationships of logistics partners. This cutting-edge technology has brought a faster, more transparent, and cost-effective logistics industry. This study, therefore, aims to investigate the behavioral intention to use the blockchain of individuals who work in logistics companies in Ho Chi Minh City (HCMC), Viet Nam, through the Unified Theory of Acceptance and Use of Technology (UTAUT) and its extended factors. Accordingly, non-probability sampling with convenience sampling has been chosen. A questionnaire was used to collect data from logistics workers before exploring and clarifying factors affecting the usersâ intention, namely performance expectancy (PE), effort expectancy (EE), social influence (SI), and facilitating conditions (FC). In addition, experience (EXP) was also expected to influence the relationships. Therefore, a multi-analytical hybrid structural equation modeling-artificial neural network (SEM-ANN) approach was used to evaluate the gathered data empirically. The expert panel examined the established questionnaire through face validity and content validity to ensure the validity and reliability of the survey instrument. The findings revealed the different positive impacts of factors on the intention to use blockchain. While the result of the PLS-SEM technique is a descending order impact of PE, FC, EE, SI, and EXP was found that have no meaningful effect on the relationships, the ANN approach produces a surprising conclusion when SI ranks first in the magnitude of influence.
Mohammed Alsadi, Junaid Arshad, Jahid Ali, Alousseynou Prince · 5 authors
Supply chain networks are complex structures which introduce significant challenges regarding transparency in production and traceability of components, making product certification non-trivial. Visibility within quality assurance processes is critical to this and is particularly important for autonomous & driver-less vehicles which rely on correct operation of individual parts (in the absence of human intervention) to achieve safety of such vehicles. Failure to ascertain quality assurance of parts can result in rogue behaviour among driver-less vehicles which can result in a risk to human lives. In this paper, a blockchain-based approach - TruCert, is proposed which achieves trustworthy product certification through enhanced visibility within tier 1 and beyond for complex automotive supply chains. Leveraging blockchain technology, TruCertâs potential to improve product quality assurance is demonstrated whilst also strengthening supply chain resilience to combat risks and uncertainties. Utilising the use-case of autonomous connected vehicles manufacturing, design and development of TruCert solution is presented including detailed system design, data model, and smart contracts & oracle implementations. TruCert enables trustworthy part certification across supply chain beyond tier 1 whilst achieving interoperability with heterogeneous systems across suppliers and other stakeholders. Outcomes of evaluation with respect to cost, performance, and security are also presented which highlight the effectiveness of the approach whilst identifying directions for future work.
Muhammad Hamza Naseem, Jiaqi Yang, Tongxia Zhang, Waseem Alam
Digital technologies like blockchain, the Internet of Things, and smart warehouses have been developed due to the fourth industrial revolution, or âIndustry 4.0.â Any businessâ supply chain includes several stakeholders, including manufacturers, distributors, suppliers, and final consumers. The demand for firms to utilize these technologies to gain competitive advantages has intensified in the modern world due to rising worldwide rivalry. Additionally, the adoption of blockchain technology, in particular, can have a huge impact on a companyâs reverse logistics, accelerating processes by decentralizing, tracking, and overseeing the delivery of items to final consumers. The goal of this study is to pinpoint those significant obstacles because several must be overcome for blockchain technology to be successfully implemented in reverse logistics. This study identified 16 impediments to the adoption of blockchain technology after a thorough analysis of the literature and expert opinion. The fuzzy AHP approach was used in this study to rank those barriers as this approach helps to address the complexity and uncertainty associated with decision-making in supply chain management and provides a more robust and reliable ranking of the barriers to blockchain adoption. A case study of Pakistanâs e-commerce industry was carried out. The results show that the high installation cost, stakeholdersâ resistance to the blockchain, and the lack of top-management support are the critical success factors in blockchain adoption. From an industrial perspective, the study highlights the need for businesses to carefully evaluate the potential benefits and costs of adopting blockchain technology. It also underscores the importance of addressing the barriers to adoption to ensure successful implementation. By doing so, businesses can enhance their supply chain management and improve their overall competitiveness.
Platforms are giants in todayâs operations. Companies like Amazon and eBay are huge enterprises which belong to top enterprises in the world. In this article, we discuss platform supply chain innovations in the blockchain era. We first search the literature and identify the level of popularity of the topic over the past years. Next, we review some closely related studies in the literature and introduce the featured papers in this IJPR special issue. After that, we identify research gaps, present the ABCDE framework and propose a future research agenda.
Abstract In electronic business (e-business), innovative technologies such as blockchain technology (BCT) have a fundamental impact on activities along the value chain. The perspective of the value chain in the context of blockchain technology has been explored, but contributions are mainly focused on supply chain management and tangible goods. Hence, the e-business domain lacks research, even though many beneficial features for service value chains and the transaction of intangible goods exist. Therefore, the current paper focuses on (1) how and why value chain activities are supported by using BCT and (2) how the stakeholderâs responsibilities change for value chain activities that are affected by BCT. A multiple case analysis of four e-business cases, i.e., Theta, OpenBazaar, Presearch, and Crypviser, is conducted. Based on four ideal value chains by Wirtz (2019) (cf. 4C-Net Model), steps that depend on BCT or that are supported by BCT are outlined. By conducting a cross-case analysis, we derive eight blockchain technology propositions that enlarge the existing knowledge base.
We study an auction with $m$ identical items in a context where $n$ agents can arbitrarily commit to strategies. In general, such commitments non-trivially change the equilibria by inducing a metagame of choosing which strategies to commit to. In this model, we demonstrate a strategy that an attacker may commit to that ensures they receive one such item for free, while forcing the remaining agents to enter into a lottery for the remaining items (albeit for free). The attack is thus detrimental to the auctioneer who loses most of their revenue. For various types of auctions that are not too congested, we show that the strategy works as long as the agents have valuations that are somewhat concentrated. In this case, all agents will voluntarily cooperate with the attacker to enter into the lottery, because doing so gives them a chance of receiving a free item that would have otherwise cost an amount commensurate with their valuation. The attack is robust to a large constant fraction of the agents being either oblivious to the attack or having exceptionally high valuations (thus reluctant to enter into the lottery). For these agents, the attacker may coerce them into cooperating by promising them a free item rather than entering in to the lottery. We show that the conditions for the attack to work hold with high probability when (1) the auction is not too congested, and (2) the valuations are sampled i.i.d. from either a uniform distribution or a Pareto distribution. The attack works for first-price auctions, second-price auctions and the transaction fee mechanism EIP-1559 used by the Ethereum blockchain.
Chiara Acciarini, Francesco Cappa, Giovanni Costanzo, Martina Prisco · 7 authors
Blockchain technology is continuing to spread in many sectors, including the food industry, which has begun to embrace it in order to face new transformative trends. Indeed, since it is based on distributed ledgers and the encryption of stored data, blockchains may provide greater security for information delivered. It is still unclear what effects the use of blockchains has on customer behavior in the food sector. Consequently, our analyses tested the impact that blockchains have on customer purchase intentions in the food sector. Our results show that information provided to customers about the use of a blockchain to protect information throughout the supply chain can positively influence their purchase intentions. This study, consequently, offers new insights into the benefits generated by blockchains in the food sector and contributes to scientific understanding of the phenomenon overall. Moreover, our results provide insights that are also useful for managers and policymakers to further spread the use of blockchains.
Abstract Relationships in multi-tier supply chains (MTSCs) are complex and require constant information sharing. For MTSCs involved in perishable product distribution, blockchain technology (BCT) is one of the most promising technologies that can ensure productsâ traceability and safety. This study examines a Portuguese MTSC for frozen fish products piloting BCT adoption for its supply chain (SC) practices. The goal is therefore to explore the consequences of information availability inherent for BCT adoption pilots in the SC context. This study follows a mixed-method approach, with qualitative and quantitative data collection techniques. Three semi-structured interviews with players from a single frozen fish SC, including supplier, transporter, and retailer were conducted. MAXQDA Analytics Pro 2022 software was used for further coding and data analysis. An online survey among retail chain consumers was conducted resulting in 112 responses. Regression analysis and Pearson correlation test were further performed via IBM SPSS Statistics software. Data collection for both parts took place between December 2021 and July 2022. This study explores four layers in the SCâ including supplier, transporter, retailer and final consumer. Findings revealed a current lack of extensive and detailed information from upper tiers regarding productsâ characteristics. Despite being hyped as a âtrust-enablingâ technology, BCT was found not to eliminate the need for trustful relationships between players prior to adoption, as information input requires human intervention. Even in those cases when the traceability option is not of major interest to final consumers, findings revealed a higher probability of purchasing fish products that have traceable information available.
Joe NaoumâSawaya, Samir Elhedhli, Paulo R. V. de Carvalho
Counterfeiting is an ever growing problem worldwide which is exacerbated by the ease of access through e-commerce and online shopping. This calls for innovative technologies, such as blockchain, to identify, track, and prevent fake products from reaching consumers, especially for vital sectors such as the drug industry, which is the main motivation for this work. We investigate the strategic implications of using blockchain technology to deter counterfeiters. We particularly focus on the case of deceptive counterfeits that infiltrate legitimate distribution channels. Deceptive counterfeits lack the quality of genuine products and may pose immense health and safety risks to consumers who are unable to distinguish them from genuine products at the time of purchase. In contrast to prior literature that assumes that blockchain eliminates deceptive counterfeiting, we present a model that realistically considers blockchain as a technology that increases the capability of detecting counterfeits. This capability nonetheless comes at an increasing cost that may financially discourage genuine manufacturers from adopting the technology. The presented model shows that blockchain is not always financially beneficial and demonstrates that manufacturers can strategically balance between product quality and investment in blockchain to combat counterfeiting. Furthermore, our results demonstrate that, with the availability of blockchain, genuine manufacturers may be less interested to differentiate products based on quality, but rather rely on blockchain to block counterfeits.
In this paper, we have presented the design and implementation of a blockchain-based approach for ensuring reliable supply chain management for commodities transported through smart containers. To administer interactions between the sender and receiver, our developed system makes use of the Ethereum blockchainâs smart contract features. Smart containers equipped with Internet of Things (IoT)-enabled sensors are used to monitor shipping conditions to check predefined shipping requirements. Smart contracts on Ethereum are used to automate payments, validate receivers, and give refunds in the case of violation of predefined requirements. We have also implemented our designed front-end decentralized WebApp and wallet that allows the sender and receiver to communicate with Ethereum smart contracts.
Xingfen Liu, Zhongbao Zhou, Feimin Zhong, Jianmai Shi
Abstract Blockchain technology is commonly used in many industries. One current application is that providing supply chain transparency, sellers can disclose product information to consumers for authentication and certification. To examine the supply chain blockchain based transparencyâlevel strategy and its interact with different refund policies, in a twoâechelon supply chain, we consider a supplier decides on the transparency level and wholesale price, and a retailer decides on retail price and provides full refund (policy F), or partial refund (policy P), or no refund (policy N) policy to consumers. We find the refund policy choice and the transparencyâlevel strategy have a mutual influence. A lenient refund policy (a higher refund) can generate more demand, which makes the supplier to provide a high transparency level, whereas a high consumer's transparency awareness also promotes the retailer to choose a more lenient refund policy. We find Pareto improvement exists under a costâsharing strategy, and the retailer is willing to share part of the adoption cost only when the efficiency of improving the transparency level is moderate. Otherwise, the retailer adopts blockchain technology only when there is no cost sharing. Further, different shipping cost bearers can change the sensitivity of refund policy choice, and the supplier prefers to provide a high transparency level when the retailer covers the shipping cost. When the retailer becomes more socially responsible, the supplier is more willing to provide a higher transparency level, and the retailer is more willing to provide a partial refund policy.
In the context of âdouble carbonâ, constructing green supply chains is the only way to implement sustainable development strategies in the manufacturing industry. This paper, therefore, examines the manufacturing supply chain for low-carbon products. More recently, the lack of technical information flow due to data barriers up and down the supply chain has led to high energy consumption, the serious waste of raw materials, and the substandard production of green products. Therefore, the level of supply chain data governance must be improved to enhance the sustainability of the supply chain. By studying blockchain-based data governance and government policy incentives for manufacturing supply chains, this study constructed an evolutionary game model based on prospect theory for the tripartite relation of government, manufacturers, and retailers. The difference between the perceived and actual value was introduced into a three-way evolutionary game model based on prospect theory to optimize the practical implications of the model. The model was then simulated using system dynamics. Through the simulation, it could be concluded that the ability of the three-way evolutionary game to reach the optimal stability point is only related to the sensitivity of the retailerâs perceived value. Additionally, the outcome of the three-way evolutionary game can be unstable, with changes in perceived value sensitivity. Finally, relevant policy recommendations are made. The innovation of this study is establishing a data governance platform that uses data governance to build green supply chains. Additionally, the government was added to the subjects of the game to explore the role of government policy in data governance and sustainable development. In addition, the evolutionary game model was incorporated with prospect theory and traditional expected utility theory, and the rational deficits and preferences of decision makers were taken into account, which brings the results closer to the reality of the situation.
The fierce competition in international markets and the rapid advancements in information technology result in shorter lead times, lower transportation capacity, and higher demand. The supply chain network is one of the most crucial areas of concentration in the majority of business circumstances. Blockchain technology is a promising option for safe information exchange in the supply chain network. Although preserving security at every level of the blockchain is somewhat important, cryptographic methodologies are frequently used in the existing works. The novel perceptive craving game search (PCGS) optimization algorithm is used to optimally generate the key for data sanitization, which assures the privacy of logistics data. Here, the original logistics data obtained from the manufacturer is sanitized with an optimal key generated by using the PCGS optimization algorithm, avoiding the risk of unauthorized access and data swarm that causes the system to lag. Moreover, the sanitized data obtained from the manufacturer is transmitted to the allowed parties via different sub-chains. The same generated key is used on the receiving customer side for reconstructing the original information from the sanitized data. The performance and results of the proposed blockchain-based privacy preservation model are validated using various parameters.
Purpose Adopting new technologies to improve supply chain activities and processes is essential due to increasingly complex and dynamic business environments. Particularly in the pharmaceutical industry, high-quality standards must be met, requiring transparency and visibility in the supply chain. This research aims at investigating the implementation of blockchain technology in the supply chain of an Egyptian pharmaceutical company. Design/methodology/approach The research applies a single case-study approach building on the theoretical underpinnings of transaction cost economics. Twenty-five semistructured interviews were conducted with pharmacies and employees of the case company to identify the blockchain technologies' potential for pharmaceutical supply in Egypt. Further analyzing the frequencies of the codes, the authors elaborate on specific relationships between the observed practices. Findings The research revealed the potential benefits of adopting blockchain technology. Transaction costs are indeed positively impacted by reduced contracting costs, processing costs and lead times, also ensuring the safe delivery of medications. However, the findings also highlight obstacles related to running costs, awareness and company culture. Regarding supply chain governance, blockchain technology can enhance collaboration within the supply chain as well as with important stakeholders. Practical implications Insufficient management of pharmaceutical supply chains (PSC) may affect a company's reputation but also disrupt the patient's healing process due to temperature damage and counterfeit medicines. Blockchain governance, in this vein, can ensure a safer and more reliable supply of pharmaceutical products. For intraorganizational purposes, however, cloud solutions, barcoding and generally digital platforms are rated more frequently than blockchain solutions. Originality/value The present study contributes to an advanced understanding how blockchain technology supports PSC, particularly in an emerging country context like Egypt. It thereby confirms and extends previous research as well as adds to the theoretical underpinnings of digitalized supply chains.
Consumer knowledge of the goods produced or processed by the numerous suppliers and processors is still relatively low due to the growing complexity of the structure of pharmaceutical supply chains. Information asymmetry in the pharmaceutical sector has an effect on welfare, sustainability, and health. (1) Background: In this respect, we wanted to develop a productive structure for a pharmaceutical supply chain that satisfies the consumer information needs and fosters consumer confidence in the pharmacy goods they buy. By using blockchain technology, the main goals were to develop and implement a pharmaceutical supply chain. (2) Objectives: The main objectives of this work were to leverage an Ethereum platform for the development of a tractability system in a pharmaceutical supply chain environment and to analyze the efficiency of MSMAChain with respect to the cost and execution of transactions based on our designed smart contracts. (3) Results: This research looked into a variety of issues related to the value, viability, and effects of blockchain technology for use in supply chain applications. The methods and creations in this environment were monitored and researched. It is vital to identify a number of crucial subjects including future research areas, in order to achieve the widespread acceptance of the supply chain traceability provided by blockchain technology. (4) Conclusions: MSMAChain, an Ethereum blockchain-based approach, leverages smart contracts and decentralized off-chain storage for efficient product traceability in terms of the cost and execution of transaction for a health care supply chain.
Primary healthcare (PHC) has become a concern in most resource constraint economies particularly in the global south where meeting this important economic need has become a burden. Given this, blockchain technology (BT), a promising transformation in contemporary service delivery, has become an alternative for service-oriented institutions to meet their desired goals. In primary healthcare, BT has been utilised to lessen the burden on medical supply chain and data management. Nonetheless, the technology seems to be a preserve of the developed economies. In the global south, not only has the complexities of the technology hindered the implementation of the technology but the understanding of its affordances has also been nascent. This study extends Task-technology fit model with the perceived e-readiness model. Drawing on the best-worst method, this paper investigates PHC managersâ decision to embrace BT for PHC delivery in Ghana. The study finds that, in order of relevance, task-technology, infrastructure and individual characteristics are the main drivers of BT adoption and implementation. The study proposes the implementation of various strategies relevant to ensuring a sustainable BT for the management of PHC in resource constraint economies.
Aggelos Kiayias, ÎÎ»ÎŻÎ±Ï ÎÎżÏ ÏÏÎżÏ ÏÎčÎŹÏ, Philip Lazos, Giorgos Panagiotakos
Blockchain systems come with the promise of being inclusive for a variety of decentralized applications (DApps) that can serve different purposes and have different urgency requirements. Despite this, the transaction fee mechanisms currently deployed in popular platforms as well as previous modeling attempts for the associated mechanism design problem focus on an approach that favors increasing prices in favor of those clients who value immediate service during periods of congestion. To address this issue, we introduce a model that captures the traffic diversity of blockchain systems and a tiered pricing mechanism that is capable of implementing more inclusive transaction policies. In this model, we demonstrate formally that EIP-1559, the transaction fee mechanism currently used in Ethereum, is not inclusive and demonstrate experimentally that its prices surge horizontally during periods of congestion. On the other hand, we prove formally that our mechanism achieves stable prices in expectation and we provide experimental results that establish that prices for transactions can be kept low for low urgency transactions, resulting in a diverse set of transaction types entering the blockchain. At the same time, perhaps surprisingly, our mechanism does not necessarily sacrifice revenue since the lowering of the prices for low urgency transactions can be covered from high urgency ones due to the price discrimination ability of the mechanism.
Abstract The automotive industry is on a continuous transition towards a more sustainable and integrated ecosystem influenced by the fast-paced adoption of Electrical Vehicles (EVs) and the developments of emerging technologies such as Automated Vehicles (AVs). The road transportation sector is also experimenting with the emergent decentralized blockchain technology in various ways ranging from supply chain transparency to insurance and tokenization. Some of the recent use cases are the use of Non-Fungible Tokens (NFTs), unique digital assets designed to be immutable, to certify ownership of a vehicle, the data history of it or just for fan base development. The current paper reviews the literature findings concerning the potential of Non-Fungible Tokens for the automotive industry and proposes a new car ownership and revenue generation model using the ERC-1155 token standard. Our proof-of-concept based on fractional vehicle ownership demonstrates the feasibility of such a model that allows for revenue distribution amongst the vehicle owners according to the percentile invested in the vehicle acquisition.
Blockchain technology is being looked at to solve numerous real-world problems that demand transparency by meeting sustainable goals. Do we ponder whether this technology is a boon or a bane for the environment? This paper analyses blockchainâs dominant consensus method, Proof-of-Work (PoW), which consumes more energy than Malaysia and Sweden and further deteriorates the environment through carbon emissions. This study is the first systematic evaluation of PoW consensus-based blockchain applicationsâ environmental consequences. We found 11 significant Theories, 6 Contexts, and 26 Methodologies (TCM) in 60 reviewed articles. We propose an Antecedents, Drivers, and Outcomes (ADO) model, which depicts that marginal profits drive high energy consumption and carbon emissions, with non-renewable energy proportionally responsible for carbon emissions. The article distinctively uses an integrated TCM-ADO framework for literature synthesis and the PESTLE framework for reporting future research areas. This is the first study to use the following four frameworks: PRISMA; TCM; ADO; and PESTLE for systematic literature review. Profit is identified as one of the most significant drivers of energy consumption and further carbon emissions. The article proposes 65 future research areas and makes theoretical contributions to the literature that may interest academicians, practitioners, and social stakeholders.