Blockchain-based Supply Chain System

Abstract

In today's world, blockchain-based systems are in demand across various industries, especially in transportation and supply chain, because of its secure, trusted, and decentralized network as well as more efficient than the traditional methods. However, the traditional ways these days are facing a lot of issues and challenges because of the complex and less secure network. Blockchain network integration overcomes the problems faced by traditional methods across industries. The Blockchain integrated network provides benefits such as a reduction in cost, scalability, improve efficiency by connecting the links between the flows, increase Transparency, the trace of the product. Although the blockchain-based systems provide various benefits, due to lack of knowledge about this technology, the implementation rate is low. In this work, it highlights the distinction between the traditional transportation and supply chain as well as Blockchain network-based transportation and supply chain and the benefits of implementing Blockchain in different sectors such as health care, insurance, food industry, retail. This work highlights the issues and challenges faced by the industries, by using the traditional methods as well as the solutions to the problems provided by the blockchain network-based systems to those industries. This work helps the people to understand the benefits of blockchain network-based systems in their respective industries as well as execute it to improve the Transparency, efficiency, and security of altogether system.