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Blockchain Technology for Supply Chain Management: A Comprehensive Review

Author

Listed:
  • Aichih (Jasmine) Chang

    (Martin Tuchman School of Management, New Jersey Institute of Technology, Newark, NJ 07102, USA)

  • Nesreen El-Rayes

    (Martin Tuchman School of Management, New Jersey Institute of Technology, Newark, NJ 07102, USA)

  • Jim Shi

    (Martin Tuchman School of Management, New Jersey Institute of Technology, Newark, NJ 07102, USA)

Abstract

Firms are eager to adopt new technologies, such as Artificial Intelligence (A.I.), Cloud Computing, Big Data, etc., as they witness successful business applications. As one of the disruptive technologies, Blockchain technology (BCT) has been drawing attention stemming from cryptocurrency proliferation (e.g., Bitcoin and Ethereum), for which Blockchain serves as the backbone. However, the public is haunted by the bewilderment between cryptocurrencies and BCT. Furthermore, the burgeoning of Metaverse and non-fungible tokens (NFT) has raised BCT to another notch. This study conducts a holistic literature review on BCT features, implementations, and business implications. In particular, by reviewing and analyzing 2265 up-to-date articles that reveal BCT’s applications across various fields, this Blockchain-centered study reveals the research status and delineates future research directions. It is shown that, among various characteristics of BCT, traceability is the main characteristic fueling BCT’s application in supply chain management (SCM). We further find that the BCT-related research has been extremely growing in SCM, healthcare, and government, while declining in the areas of banking and cyber security. Geographically, the top countries with BCT-related publications are China, U.S., and India. Finally, it is emphasized that BCT-related research in environmental sciences and agriculture have potential to be explored.

Suggested Citation

  • Aichih (Jasmine) Chang & Nesreen El-Rayes & Jim Shi, 2022. "Blockchain Technology for Supply Chain Management: A Comprehensive Review," FinTech, MDPI, vol. 1(2), pages 1-15, June.
    • Handle: RePEc:gam:jfinte:v:1:y:2022:i:2:p:15-205:d:832685
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    References listed on IDEAS

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    Cited by:

    1. Che-Pin Chen & Kai-Wen Huang & Yung-Chi Kuo, 2023. "Conditional Token: A New Model to Supply Chain Finance by Using Smart Contract in Public Blockchain," FinTech, MDPI, vol. 2(1), pages 1-35, March.
    2. Jian-Jun Wang & Zongli Dai & Wenxuan Zhang & Jim Junmin Shi, 2023. "Operating room scheduling for non-operating room anesthesia with emergency uncertainty," Annals of Operations Research, Springer, vol. 321(1), pages 565-588, February.
    3. Muen Uddin & Shitharth Selvarajan & Muath Obaidat & Shams Ul Arfeen & Alaa O. Khadidos & Adil O. Khadidos & Maha Abdelhaq, 2023. "From Hype to Reality: Unveiling the Promises, Challenges and Opportunities of Blockchain in Supply Chain Systems," Sustainability, MDPI, vol. 15(16), pages 1-24, August.
    4. Nesreen El-Rayes & Aichih (Jasmine) Chang & Jim Shi, 2023. "Plastic Management and Sustainability: A Data-Driven Study," Sustainability, MDPI, vol. 15(9), pages 1-15, April.
    5. Samir Yerpude & Kiran Sood & Simon Grima, 2022. "Blockchain-Augmented Digital Supply Chain Management: A Way to Sustainable Business," JRFM, MDPI, vol. 16(1), pages 1-17, December.
    6. Ahmed Antwi-Boampong & David King Boison & Musah Osumanu Doumbia & Afia Nyarko Boakye & Linda Osei-Fosua & Kwame Owiredu Sarbeng, 2022. "Factors Affecting Port Users’ Behavioral Intentions to Adopt Financial Technology (Fintech) in Ports in Sub-Saharan Africa: A Case of Ports in Ghana," FinTech, MDPI, vol. 1(4), pages 1-14, November.
    7. Lewis A. Njualem, 2022. "Leveraging Blockchain Technology in Supply Chain Sustainability: A Provenance Perspective," Sustainability, MDPI, vol. 14(17), pages 1-15, August.
    8. Qingfeng Zhu & Rui Zong & Mengqi Xu, 2023. "Three-Party Stochastic Evolutionary Game Analysis of Supply Chain Finance Based on Blockchain Technology," Sustainability, MDPI, vol. 15(4), pages 1-20, February.

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