Modeling the Barriers of Blockchain Technology implementation in Supply Chain
Shahbaz Khan, Mohd Imran Khan, Rubee Singh
Abstract
Blockchain is an emerging technology that can transform many sectors in the age of digitization. By adding more transparency to the transitions of information and physical items, blockchain is considered a disruptive innovation that has the power to alter conventional supply chain activities. In these circumstances, blockchain technology must also be implemented in the supply chain. While implementing blockchain technology, supply chain partners face a number of barriers. As a result, the main goal of this research is to explore the prime barriers to the adoption of blockchain technology in the supply chain. In order to achieve these goals, we reviewed the literature and sought the advice of industry experts to identify the 10 main barriers to the adoption of blockchain technology. Further, the DEMATEL approach is used to categorize the finalized barriers into influential and influenced groups. The finding of this study suggests that “influential group” barriers demand more attention from the supply chain partners to minimize these barriers. The top influencing factors are “unwillingness of information sharing”, “lack of trust among SC partners” and “lack of technological advancement” and these barriers demand quick attention from supply chain stakeholders. This study looks into the barriers that stand in the way of effectively implementing blockchain in the supply chain, which will help managers do so.