CAPITALIZING ON BLOCKCHAIN'S POTENTIAL AND BENEFITS IN THE SUPPLY CHAIN

Abstract

This paper investigates impact and benefits blockchain technology can brings to supply chain system. If India is looking forward to take the advantage of this growing opportunity in logistic & supply chain, the urgent need is to recalibrate itself towards getting more organized in work flow; it should tackle the security issues more efficiently and effectively; it should build more trust amongst the involved entities. There is an urgent need of a robust system which can cater to the various problems existing in the logistic & supply chain system at a single place to verify and authenticate transactions and settle various conflicts in a transparent manner which cannot be denied and can be easily verified at any time. Blockchain technology holds such promising features that can be leveraged to make supply chain system more transparent, accountable and more secure.