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From Hype to Reality: Unveiling the Promises, Challenges and Opportunities of Blockchain in Supply Chain Systems

Author

Listed:
  • Muen Uddin

    (College of Computing and Information Technology, University of Doha for Science and Technology, Doha 24449, Qatar)

  • Shitharth Selvarajan

    (Department of Computer Science, Kebri Dehar University, Kebri Dehar 250, Ethiopia)

  • Muath Obaidat

    (Department of Computer Science, City University New York, New York, NY 10036, USA)

  • Shams Ul Arfeen

    (National Advanced IPv6 Centre (NAv6), Universiti Sains Malaysia, Gelugor 11800, Malaysia)

  • Alaa O. Khadidos

    (Department of Information Systems, Faculty of Computing and Information Technology, King Abdulaziz University, Jeddah 21589, Saudi Arabia)

  • Adil O. Khadidos

    (Department of Information Technology, Faculty of Computing and Information Technology, King Abdulaziz University, Jeddah 21589, Saudi Arabia)

  • Maha Abdelhaq

    (Department of Information Technology, College of Computer and Information Sciences, Princess Nourah bint Abdulrahman University, P.O. Box 84428, Riyadh 11671, Saudi Arabia)

Abstract

Blockchain is a groundbreaking technology widely adopted in industrial applications for improving supply chain management (SCM). The SCM and logistics communities have paid close attention to the development of blockchain technology. The primary purpose of employing a blockchain for SCM is to lower production costs while enhancing the system’s security. In recent years, blockchain-related SCM research has drawn much interest, and it is fair to state that this technology is now the most promising option for delivering reliable services/goods in supply chain networks. This study uses rigorous methods to review the technical implementation aspects of SCM systems driven by Blockchain. To ensure the security of industrial applications, we primarily concentrated on developing SCM solutions with blockchain capabilities. In this study, the unique qualities of blockchain technology have been exploited to analyze the main effects of leveraging it in the SCM. Several security metrics are utilized to validate and compare the blockchain methodologies’ effectiveness in SCM. The blockchain may alter the supply chain to make it more transparent and efficient by creating a useful tool for strategic planning and enhancing connections among the customers, suppliers, and accelerators. Moreover, the performance of traditional and blockchain-enabled SCM systems is compared in this study based on the parameters of efficiency, execution time, security level, and latency.

Suggested Citation

  • 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.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:16:p:12193-:d:1213814
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    References listed on IDEAS

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    Cited by:

    1. Casey Watters, 2023. "Digital Gold or Digital Security? Unravelling the Legal Fabric of Decentralised Digital Assets," Commodities, MDPI, vol. 2(4), pages 1-12, October.

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