How Blockchain Enhances Transparency and Resilience in Global Supply Chains

Alice Lawrence

No 357nb_v1, OSF Preprints from Center for Open Science

Abstract: In recent years, blockchain technology has emerged as a powerful tool for enhancing transparency and resilience in global supply chains. By providing a decentralized and immutable ledger, blockchain enables real-time tracking of goods, ensuring that all stakeholders ranging from suppliers to consumers have access to accurate, verifiable data. This increased visibility helps mitigate risks such as fraud, counterfeiting, and inefficiencies in logistics. Additionally, blockchain's ability to automate processes through smart contracts enhances operational resilience, enabling quicker responses to disruptions and ensuring continuity in the face of challenges. This paper explores the role of blockchain in transforming global supply chains, focusing on its impact on transparency, traceability, and risk management. Through case studies and industry examples, we demonstrate how blockchain fosters trust, reduces operational costs, and strengthens the ability of supply chains to withstand shocks, ultimately contributing to more sustainable and efficient global trade practices. Keywords: Blockchain, transparency, resilience, global supply chains, traceability, smart contracts, fraud prevention, operational efficiency, risk management, sustainability.

Date: 2024-07-26
New Economics Papers: this item is included in nep-pay
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Persistent link: https://EconPapers.repec.org/RePEc:osf:osfxxx:357nb_v1

DOI: 10.31219/osf.io/357nb_v1

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