Secured and Sustainable Supply Chain Management Using Key Escrow Encryption Technique in Blockchain Mechanism

Abstract

INTRODUCTION: Supply chain management is the management process of the flow of goods, and services related to financial functionalities, procurement of raw materials delivery to the final destination. OBJECTIVES: Since the traditional supply chain process lacks data visibility, trustworthiness, and distributed ledger, the need for the blockchain mechanism to ensure the time-stamped transactions to provide a secured supply chain process has been introduced and integrated. METHODS: The distributed nature of the blockchain helps in organizing the supply chain and engaging the customers with real, verifiable, and immutable data. Blockchain technology enables these transactions to be tracked in a very secure and transparent manner. In this paper, we, therefore, propose a framework that utilizes blockchain and key Escrow encryption systems to optimize the security of supply chains to improve services for global business survivability. RESULTS: The comparative analysis with the existing benchmarking techniques with respect to the key size, key generation time, and key distribution time was carried out with the proposed model and found that proposed work provides better results. CONCLUSION: This proposed system can track the authenticity of the product and details about the manufacturer of that particular product. Thus, the paper concludes the proposed work enhances data’s integrity, traceability, and availability and single-point failure can be resolved or reduced using blockchain mechanism.