Blockchain in supply chain accounting: Enhancing transparency and efficiency
Motunrayo Oluremi Ibiyemi, David Olanrewaju Olutimehin
Abstract
This review paper examines the integration of blockchain technology into supply chain accounting, highlighting its potential to revolutionize transparency and efficiency in the field. Through a detailed analysis, the paper discusses blockchain's fundamental principles, including decentralization, immutability, and transparency, and their applicability to overcoming current challenges in supply chain accounting. It explores the theoretical underpinnings supporting blockchain's adoption, practical implications for businesses, and the operational changes required. Despite promising prospects, the paper identifies significant research gaps and calls for empirical studies to validate blockchain's benefits further. It concludes by reflecting on the technology's future implications, emphasizing the need for continuous innovation and stakeholder collaboration to fully realize blockchain's potential in enhancing supply chain accounting practices. Keywords: Blockchain, Supply Chain Accounting, Transparency, Efficiency, Technology Integration, Operational Changes.