Blockchain technology as a new driver in supply chain
Mikuláš Černý, Marián Gogola, Stanislav Kubaľák, Ján Ondruš
Abstract
Processes associated with the transformation of inputs (raw materials, components) into outputs (goods, finished products) and their transport to the place of consumption are an essential part of the functioning of today’s society. These processes are becoming more complex with the gradual globalization. As the complexity of the supply chain increases, so does the risk of disruption. There are problems such as a lack of information on the origin of the products, a lack of real-time information and, with that, a problem with tracking shipments. With a large number of documents, the risk of fraud and forgery also increases. Due to the large number of stakeholders in logistics chains, the level of transparency is being lost. One possible solution to eliminate the risk of supply chain complexity is to integrate blockchain technology into the supply chain. Thanks to properties such as distribution, immutability, transparency, blockchain can have great potential to solve the problems of the traditional supply chain. The aim of this paper is to describe the basic problems of the traditional supply chain, which can disrupt its course. In the next part, we will introduce the basics of blockchain technology and describe what processes of the traditional supply chain could be replaced by this technology.