Blockchain can increase transparency, security, and efficiency in supply chain management, but it also raises concerns about scalability, interoperability, and regulatory compliance.
Blockchain holds transformative potential for enhancing visibility, trust, and efficiency in supply chains. However, its successful adoption depends on addressing technical, organizational, and regulatory challenges. A hybrid approach combining traditional systems with permissioned blockchain networks often offers a practical path forward.
Read the following article. It presents a detailed review of the blockchain in wine supply chain. It also discusses challenges and future directions for the use of blockchain in supply chain.
Bottling Up Trust: A Review of Blockchain Adoption in Wine Supply Chain Traceability
https://ieeexplore.ieee.org/abstract/document/10766577
Blockchain technology offers significant benefits for supply chain management, including enhanced transparency through immutable records that enable stakeholders to trace goods from origin to consumer, improved security by reducing fraud through cryptographic verification, and increased efficiency by automating processes such as payments and documentation using smart contracts. For instance, in agricultural supply chains, such as those at the Royal Agricultural University, blockchain can ensure the authenticity of organic produce, thereby boosting consumer trust. However, challenges such as scalability, where high transaction volumes can slow networks, interoperability issues between different blockchain platforms, and the complexity of achieving regulatory compliance across borders remain critical hurdles. With the growing adoption of blockchain in industries such as food and luxury goods, I’d be interested in hearing how others are addressing data privacy concerns or leveraging real-time data from platforms to enhance blockchain implementations in their supply chains—any insights to share?
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