Blockchain-Based Decentralized Information Sharing for Supply Chain Management

Abstract

Entities in modern supply chains are geographically dispersed across the globe. These entities have to collaborate to function as an integrated system. Advancements in technology facilitate various means for effectively sharing information among supply chain entities. At present, organizations are IT-enabled, and they use dedicated information systems to manage and share their information. In fact, the majority of such systems are technically centralized in nature. Centralized information systems are exposed to a set of security vulnerabilities, and they can cause trust issues in supply chains. Decentralized information sharing can serve several benefits to supply chains. Blockchain is an emerging database technology that facilitates decentralized information sharing. Blockchain-based decentralized information sharing can bring attractive benefits for supply chain stakeholders. This chapter narrates the importance of decentralized information sharing in supply chains and introduces blockchain technology and its opportunities in the stream of supply chain management.