Characteristics of blockchain technology and its impact on improving supply chain performance from an accounting perspective: Evidence from Saudi Arabia

Abstract

This study aimed to clarify the importance of using blockchain in the supply chain sector and examine the impact of blockchain technology characteristics on improving supply chain performance by applying it to industrial companies in Saudi Arabia. To achieve this, the study used an inductive approach to analyze existing accounting literature on four blockchain characteristics and their impact on enhancing supply chain performance. A field study was conducted to gather the perspectives and opinions of faculty members in the Accounting Department of Saudi universities, accountants in Saudi industrial companies, and information and communications technology experts working in blockchain and supply chain fields. The sample size was 150 individuals from 2012 to August 2023, and the analysis was performed using IBM SPSS Version 29. The study concluded that blockchain technology significantly improves supply chain performance in Saudi industrial companies, with the four blockchain characteristics (transparency and privacy, decentralization, traceability, and smart contracts) having a positive impact. The study recommends future research on the relationship between blockchain technology and corporate governance, examining tax issues related to blockchain operations, and training accountants and industrial workers to use blockchain to enhance supply chain performance.