POSSIBILITIES OF SUPPLY CHAIN IMPROVEMENT USING BLOCKCHAIN TECHNOLOGY AND SMART CONTRACTS

Abstract

Traditional supply chain management systems have trouble ensuring information traceability, transparency and trust between their participants. Blockchain technology and smart contracts can help in overcoming these problems and improve the efficiency of the entire chain. In this paper, we presented cases of using these technologies in supply chain management and described how the mentioned problems can be resolved. Also, the paper contains an example of a supply chain model based on a blockchain network. Although the participants and transactions in the described model are simplified, they are an excellent demonstration of how these technologies can improve menagement of the supply chain and add additional value to everyone in the supply chain