Blockchain Papers

Alireza Goli

No abstract is available for this record.

Mohd Ziyauddin Khan, Ashwani Kumar, Aditya Kumar Sahu

Purpose A fragmented research field exists on the applications of disruptive technologies like blockchain in supply chain management. Thus, the purpose of this study is to present a systematic review of literature reviews, summarising the applications of blockchain in various kinds and facets of the supply chain to date. Design/methodology/approach The literature search was conducted using Scopus and Web Of Science databases, and reporting was performed using PRISMA guidelines. In total, 43 review papers were identified, and 15 reviews applicable to the study were synthesised. Findings Blockchain technology is still in its infancy; however, it is gaining high utility in supply chain management. The technology is constantly expanding its application base, and it has enormous potential to cut out intermediaries and improve the efficiency of supply chains. Taking a look at the past and the present, the current study explores unexplored research avenues for the future. Research limitations/implications This study provides key insights to academia interested in exploring and advancing the topic. Practical implications This study will benefit practitioners and business managers exercising the potential of such a technology in various industrial contexts. Social implications The outcome of this study has the potential to bring many benefits to society at large. These benefits, if fully realised, could positively impact the society. Originality/value To the best of the authors’ knowledge, this is the first broad systematic review of reviews analysing the information about blockchain applications and implementation in the supply chain. Based on its constructive overview of the review studies published to date, this study contributes to the supply chain management literature by providing a table of reference for future researchers.

Zhen‐Song Chen, Zhengze Zhu, Zhu-Jun Wang, Yung Po Tsang

No abstract is available for this record.

Ömer Faruk Görçün, Dragan Pamučar, Sanjib Biswas

No abstract is available for this record.

Huida Zhao, Jiaguo Liu, Guoqing Zhang

The emergence of blockchain creates a new possibility to solve the fraudulent problem of financial supply chain. We construct a game model to verify the strategic choice of the financial supply chain in an uncertain environment. We derive the equilibrium results and investigate the strategic choice of blockchain service for the financial supply chain. We also study the product price, product quantity, financing interest rate, and supply chain risk transmission, respectively. Specifically, when the blockchain is not considered, the financial model of supply chain led by core enterprises depends on firms’ reputation. The retail and wholesale prices increase when fraud occurs or consideration payment increases. Besides, the market stability reduces price performance. In the blockchain environment, the strategic choices are divided into two cases: when choosing the core enterprise model and the third-party service model, the third-party service model is the equilibrium strategy; when choosing the third-party service model and the platform model, the platform model is the equilibrium strategy.

Azmat Ullah, Muhammad Ayat, Yi He, Benjamin Lev

No abstract is available for this record.

Sinan Çıkmak, Barış Kantoğlu, Gökhan Kırbaç

This research aims to investigate and identify the effects of blockchain technology (BT) characteristics on SCOR supply chain (SC) performance measurement attributes. To achieve this, initially, the importance weights of blockchain characteristics (BC) in the context of the SC are determined by using the Interval Type-2 Fuzzy AHP. Furthermore, in order to rank Supply Chain Operation Reference (SCOR) model SC performance measurement attributes, the Interval Type-2 Fuzzy TOPSIS method is used. As for the conclusion, this research signifies that decentralised, security, and immutability are among the top three in terms of importance weights for SC while the consensus is ranked last and as for BC, SCOR model SC performance measurement attributes are ranked as reliability, asset management efficiency, responsiveness, cost, and agility. This study and its outcomes may serve organisations that are striving to boost their SC performance by applying BT.

Xiaoming Li

No abstract is available for this record.

Zhao Lin

No abstract is available for this record.

Shahbaz Khan, Abid Haleem, Zafar Husain, Danny Samson · 5 authors

Abstract In the era of digitalization, Blockchain is an evolving technology that has the potential to change the shape of numerous industries. Blockchain is considered the transforming technology that has the ability to change the conventional supply chain network by providing additional transparency of transactions in terms of information and physical goods. Additionally, the implementation of blockchain technology in the supply chain is required to accomplish the objectives of industry 4.0. However, there has to date been a scarcity of blockchain implementations due to the numerous barriers associated with it. Therefore, the primary aim of this research is to identify and investigate the major barriers to implementing blockchain technology in supply chains. We identified ten significant barriers to adopting blockchain technology through a literature review and expert opinions. Additionally, the finalized barriers were categorized into an influential and influenced group using the DEMATEL method. The findings of this study show that 'influential group' barriers require more attention from the supply chain partners to mitigate these barriers. The primary influential barriers are 'Lack of information sharing,' 'Trust management issues,' and 'Lack of upgraded technologies’, and these barriers require immediate attention from supply chain stakeholders wishing to use blockchain. These findings contribute to improving managerial decisions and digital strategies regarding blockchain within organisations, and how implementation can effectively be achieved.

Shuai Li, Shaojian Qu

With the gradual and widespread application of blockchain technology in the supply chain, its characteristics can help solve the financing problem of MSMEs. To this end, this paper constructs a cooperative game model for suppliers, manufacturers and retailers in the case of a cross-level guarantee of order-to-factoring, studies the pricing strategy of supply chain finance members based on blockchain technology by adopting the Stackelberg primary-secondary game method, and makes a reasonable allocation of total supply chain revenue with the help of the Shapley value of the cooperative game. The study found that the adoption of blockchain can be effective in increasing the benefits to supply chain members and systems. The adoption of blockchain increases the blockchain costs but decreases the financing costs for the supplier. The Shapley value of the cooperative game is used to distribute the benefits, allowing for Pareto improvements in the benefits to supply chain members. In the next step, we will focus on examining the impact of risk assessment and the degree of information disclosure on supply chain finance with blockchain technology.

Hua Song, Siqi Han, Kangkang Yu

Purpose This study examines the cognitive factors of adopting blockchain technology in various supply chain scenarios and its role in reframing the distinctive values of supply chain financing. Based on expectancy theory, this study explores the different profiles underlying the components of expectancy, valence and instrumentality. Design/methodology/approach This is a multiple-case study of four Fintech companies using blockchain technology to promote the performance of supply chain operations and financing. Findings The results show that blockchain-enabled supply chain finance (BSCF) can be classified into four scenarios based on the scope and purpose of blockchain technology applications. The success of BSCF depends on the profiles of BSCF expectancy (the recognized purpose and scope of BSCF), instrumentality (identified blockchain attributes and other technology combinations) and valence (the perceived distinctive value of BSCF). Blockchain attributes help solve information asymmetry problems and enhance financing performance in two ways: one is supporting transparency, traceability and verification of transmissions and the other entails facilitating a transformation to new business models. Originality/value This research applies a new perspective based on expectancy theory to study how cognitive factors affect Fintech companies' blockchain solutions under a given supply chain operation or financing activity. It explains the behavioral antecedents for applying blockchain technology, the situations appropriate for the different roles of blockchain technology and the profiles for realizing the value of blockchain technology.

Hugo Eduardo Ramirez, Julián Fernando Sanchéz

This paper studies the optimal liquidation of stocks in the presence of temporary and permanent price impacts, and we focus in the case of cryptocurrencies. We start by presenting analytical solutions to the problem with linear temporary impact, and linear and quadratic permanent impact. Then, using data from the order book of the BNB cryptocurrency, we estimate the functional form of the temporary and permanent price impact in three different scenarios: underestimation, overestimation and average estimation, finding different functional forms for each scenario. Using finite differences and optimal policy iteration, we solve the problem numerically and observe interesting changes in the optimal liquidation policy when applying calibrated linear and power forms for the temporary and permanent price impacts. Then, with these optimal policies, we identify optimal liquidation trajectories and simulate the liquidation of initial inventories to compare the performance among the optimal strategies under different parametrizations and against a naive strategy. Finally, we characterize the optimal policies based on the functional form of the inventory and find that policies generating the highest revenue are those starting with a low trading rate and increasing it as time passes.

N. Nasurudeen Ahamed, R. Vignesh

Blockchain innovation is a disseminated information base of records. It’s perhaps, troublesome innovations for the layout, tasks, and fundamental operation of supply chains. But, the blockchain helps a lot in supply chain management to bring the trustworthiness (tracking and tracing) to many parameters. Additionally, Food Supply Chain Management. It (Blockchain) helps a lot to avoid food contamination while transactions. Ethereum Brilliant deals, as built rules between the parties to maintain the protocols without any violation. Because it’s built-in computerized (code) so no security breaches between parties, This, Brilliant agreements open system reports dividing among inventory network members, and consistent cycle improvement. Truffle Suite, Ganache guarantees a detached individual blockchain network you can use for testing brilliant agreements. The functionalities of Ganache empower improved efficiency concerning the velocity of testing and sending contracts.

Mohammed A. Alqarni, Mohammed Saeed Alkatheiri, Sajjad Hussain Chauhdary, Sajid Saleem

Blockchain is a disrupting technology that has the capability to completely alter the design, activities, and product flows in logistics and supply chain networks. It provides assurance of openness, immutability, transparency, security, and neutrality for all supply chain agents and stakeholders. In this paper, we explore the improvements and tradeoffs introduced by using blockchains in logistics management in terms of the sustainability of society, the environment, and economic dimensions of the supply chain. Blockchain technology makes it much more difficult to counterfeit products by providing indisputable and immutable proof of the provenance of the raw materials, products, and sale to the end consumer. This can potentially enhance the trust of the consumer in the product and financially benefit the manufacturer through the protection of their intellectual property rights. This paper explores the benefits, applications, and issues related to the usage of blockchain and smart contracts for logistics and supply-chain management. We focus on the implementation, deployment, audit, and operational aspects of smart contracts in the blockchain applied to terrestrial, maritime, and aerial logistics networks. The paper also discusses opportunities and challenges that arise due to the use of smart contracts in these sectors.

Ardavan Babaei, Majid Khedmati, Mohammad Reza Akbari Jokar, Erfan Babaee Tırkolaee

With the development of communication infrastructure, the design of supply chains has changed significantly. Blockchain technology, as one of the most cutting-edge technologies, can promote transparency among members of the supply chain network. To the best of our knowledge, this is the first study that tries to develop a novel bi-objective optimization model to integrate the transparency resulting from the use of blockchain for designing a three-level supply chain network. The first objective function is to minimize total cost while the second objective function seeks to maximize transparency based on the application of blockchain technology. Moreover, it is worth noting that it is the first attempt to investigate the role of a blockchain model under stochastic conditions. The bi-objectiveness and stochastic nature of the proposed model are then treated using Fuzzy Goal Programming (FGP) and Chance-Constrained programming (CCP) approaches, respectively. To tackle the problem, an improved Branch and Efficiency (B&E) algorithm is developed by incorporating transparency along with cost and service. The impacts of blockchain exclusively through transparency (Case 1) or through transparency, cost, and benefits (Case 2) in Supply Chain Design (SCD) are compared. The results demonstrated that the first case has less computational complexity and better scalability, while the second case has more transparency, less congestion, and more security. As one of the main implications, supply chain managers who are focused on cost minimization as well as transparency maximization are advised to take into account the trade-off between featuring costs and benefits of blockchain technology.

Aijaz A. Shaikh, Nadia Dahmani, Sana Khan, Ravi Sharma

The competitive value of customer loyalty programs is well-known among marketing strategists. With the emergence of digital platforms, their impact has skyrocketed, with mobile applications replacing more cumbersome physical cards with unique identification numbers on embedded magnetic strips or smart chips. However, these programs generally suffer from two major drawbacks that limit their growth. Firstly, physical cards and mobile applications are restricted to particular merchants and programs. There is no mechanism for customers to transfer their loyalty points between programs or to other customers (although airlines are pioneering efforts in this direction). Secondly, the payoffs of participating in these programs and transactions are not fair to all players (customers, merchants and program operators). Finally, the operational mechanisms of such programs are rarely transparent and traceable; hence, disputes are not easily mediated. Using the innovative strengths of blockchain technology, we present a conceptual architecture for a meta or universal customer loyalty program that supports the design principles of transparency, accountability, fairness and ethics.

Jung‐Fa Tsai, Dinh-Hieu Tran, Phi-Hung Nguyen, Ming-Hua Lin

Blockchain technology is emerging and has high potential to improve and transform the agricultural supply chain. This study investigates the critical barriers to blockchain technology adoption in the Vietnamese agricultural supply chain using a novel interval-valued hesitant fuzzy Decision-Making Trial and Evaluation Laboratory (IVHF-DEMATEL) approach. The IVHF-DEMATEL technique is applied to identify cause-and-effect relationships and draw the influence-relations map of the barriers. In contrast to prior work, which converts fuzzy sets into crisp sets and then uses crisp set operations, this study is the first study to investigate the Vietnamese agricultural supply chain that uses fully hesitant fuzzy operations representing experts’ assessment without information loss during the conversion. Our results show that ‘lack of government regulation’, ‘lack of scalability and system speed’, ‘a large amount of resource and capital requirements’, and ‘lack of trust among agro-stakeholder or public perception’ are the main barriers. Consistent with previous studies, ‘lack of government regulation’ is the most significant barrier. The results also indicate the hesitant degree of each barrier and better inform decision-makers about uncertain situations. Moreover, a priority order for tackling barriers is proposed to accelerate blockchain adoption in the Vietnamese agricultural supply chain.

Saroj Kumar Nanda, Sandeep Kumar Panda, Madhabananda Dash

Nowadays blockchain technology plays a vital role in creative developments and important discoveries in the world. Blockchain develops secure and trustworthy platforms for data sharing in various application areas such as secure sharing of medical data, Anti-money laundering, tracking systems, Supply chain, and logistics monitoring, Crypto-currency exchange, etc. Today's Supply chain in the healthcare sector faces many problems like security, transparency, tampering with medical products, counterfeit drugs, more paperwork, high cost, and more time-consuming process while transporting medical equipment from manufacture to end-users. To overcome these problems, we introduce Novel Approach for Integrated IoT (Internet of Things) With Blockchain in Health Supply Chain (NAIBHSC) approach. By using this approach, we can eliminate all supply chain-related issues between suppliers and end-users. The goal of this research is by combining Blockchain technology with IoT to develop a smart health supply chain management system. This approach provides security, privacy, trust, visibility, decentralized tracking and tracing of the medical product, avoids counterfeit drugs, avoids the damage to medical components, authentication, reduces the cost, and provides the status of the products during the shipment process between manufacturers to end-user. In this approach, we conduct a series of experiments on a different group of users. The experimental results show that compare to existing approaches our proposed NAIBHSC approach gives better response time that is the average Transaction Per Second (TPS) for a group of 500 users is 100 milliseconds, reduces the latency time that is average latency time for 500 users group has 403 milliseconds, and improves the overall performance of the smart health supply chain management system.

Clarissa Amico, Roberto Cigolini

No abstract is available for this record.

Shuai Zhao, Wenli Li

The blockchain-based traceability system (BTS) can reduce product losses in the perishable goods market, which yields a loss-reduction effect, and offer authentic information, which triggers a premium effect. In a dual-channel perishable goods supply chain (DPGSC), including one supplier and retailer each, the supplier can operate the price of the direct channel, different or non-different from that of the traditional channel. To study the adoption of BTS in the supplier-led DPGSC, we employed a game-theoretical model to capture BTS adoption strategy under the differential and non-differential pricing policies and proposed an improved cost-sharing contract to boost the DPGSC performance. The results indicated that both the supplier and the retailer are willing to improve product quality, broaden the saleable region, and lower the production cost. The adoption of BTS mainly depends on the losses-reduction effect, premium effect, production cost, and tag cost, which is affected more by the premium effect than by the loss-reduction effect. Furthermore, their adoption is not always easier when the production cost is higher. Except for symmetric base demands, they benefit asynchronously from BTS. Synchronised adoptions can be realised only when the improved cost-sharing contract generates more profits and introduces excess momentum.Highlights Blockchain-based traceability system handles product losses and forged informationAdoption decision-making processes under two different pricing policies are studiedIn the adoption process, the premium effect outweighs the loss-reduction effectContract may introduce insufficient momentum, excess momentum, or new inefficiencyOnce excess momentum is formed, supply chain members' adoptions become synchronised

Dinh Anh Phan, Vincent Hovelaque, Jean‐Laurent Viviani

No abstract is available for this record.

Jiahao He, Guangyuan Zhang, Jiheng Zhang, Rachel Q. Zhang

Problem definition: A blockchain payment system, such as Bitcoin or Ethereum, validates electronic transactions and stores them in a chain of blocks without a central authority. Miners with computing power compete for the rights to create blocks according to a preset protocol, referred to as hashing or mining, and, in return, earn fees paid by users who submit transactions. Because of security concerns caused by decentralization, a transaction is confirmed after a number of additional blocks are subsequently extended to the block containing it. This confirmation latency introduces an intricate interplay between miners and users. This paper provides approximate system equilibria and studies optimal designs of a blockchain. Methodology/results: The hashing process is essentially a single-server queue with batch services based on a fee-based priority discipline, and confirmation latency adds complexity to the equilibrium behavior and optimal design. We analyze how miners’ participation decisions interact with users’ participation and fee decisions and identify optimal designs when the goal is to maximize the throughput or social welfare. We validate our model and conduct numerical studies using data from Bitcoin. Managerial implications: By incorporating security issues, we uncover the interdependence of the decisions between users and miners and the driver for nonzero entrance fees in practice. We show that miners and users may end up in either a vicious or virtuous cycle, depending on the initial system state. By allowing the entrance fee to be a design parameter, we are able to establish that it is optimal to simply run a blockchain system at its full capacity and a block size as small as possible. Funding: This work was supported by the Hong Kong Research Grants Council [Grants 16200019, 16200617, 16200821, 16208120, and 16214121]. Supplemental Material: The e-companion is available at https://doi.org/10.1287/msom.2023.1197 .

Hao Ying, Xiaosong Peng, Xiande Zhao, Zhong Chen

Blockchain‐based track and trace (BCT) is increasingly adopted in the retail supply chain. However, there is little rigorous empirical evidence quantifying the effects of BCT on consumer purchases or examining the heterogeneity of these effects with varying product‐related characteristics. Employing transactional data from a leading global e‐retailer that contains 540 stock keeping units (SKUs), we design a quasi‐natural experiment spanning 80 weeks to estimate the signaling effect of BCT (i.e., disclosure of the BCT to consumers) on consumer purchases. Drawing on the signaling theory, we propose that BCT can serve as an effective and reliable signal of the product quality and trustworthiness of the retailer. Our research uncovers significant positive effects of BCT on the average purchase quantity per buyer, the total number of buyers, the number of new buyers, and the number of unique visitors to the traced products. We also find nuanced moderation effects for two product‐related characteristics—namely, consumer review inconsistency and product origins—on the influence of BCT on consumer purchases. Specifically, the signal effectiveness of BCT is stronger for products with more inconsistent customer reviews that indicate greater information asymmetry. The effect of BCT for products sourced globally is magnified because of the high BCT signal reliability attributed to the unique properties of the blockchain. The heterogeneous effects of BCT by varying product‐related characteristics can inform managers in selecting the right products to implement BCT.