The Role of Blockchain Technology in Enhancing Supply Chain Transparency in Europe
DOI:
https://doi.org/10.53819/81018102t2179Abstract
This study explores the transformative potential of blockchain technology in enhancing supply chain transparency in Europe. In recent years, the complexity of European supply chains has increased, posing challenges related to traceability, authenticity, and accountability. Blockchain technology, with its decentralized and immutable ledger system, offers a promising solution to address these challenges and revolutionize the European supply chain landscape. Through a comprehensive review of existing literature, this study examines the role of blockchain in enabling end-to-end traceability, data integrity, and stakeholder collaboration in supply chains. Real-world use cases in industries such as food safety, pharmaceuticals, and sustainable sourcing are analyzed to illustrate the practical applications of blockchain technology. However, the study also highlights the regulatory landscape and challenges faced in adopting blockchain solutions, particularly related to data privacy, interoperability, cross-border regulations, and scalability. To successfully harness the potential of blockchain, collaboration between industry players, governments, and regulatory bodies is emphasized. Overall, this study sheds light on the transformative impact of blockchain technology and emphasizes the need for a supportive regulatory framework to fully realize its benefits in enhancing supply chain transparency and efficiency in Europe.
References
Azzi, J., Thomas, D., & Mireles, M. L. (2021). Blockchain Technology for Pharmaceutical Supply Chain Integrity: Current Applications, Challenges, and Future Opportunities. Journal of Pharmaceutical Sciences, 110(2), 832-839.
Björkdahl, J., Hrastinski, S., & Sjöström, J. (2020). Blockchain in Supply Chain Management: Analyzing the Potential in a European Context. International Journal of Information Management, 50, 398-408.
European Commission. (2016). General Data Protection Regulation (GDPR).
European Commission. (2019). European Supply Chains: Current Challenges and Future Perspectives.
European Parliament. (2018). Legal Implications of Blockchain: A Report for the European Parliament.
EY Global. (2020). Blockchain: Risks and Opportunities.
Feng, Y., Zhang, S., Li, X., Wang, Y., & Zheng, D. (2018). Blockchain-Based Data Integrity Service Framework for IoT Data. Sensors, 18(10), 3225.
Gupta, M., & George, B. (2020). Sustainable Supply Chain Management: The Role of Blockchain Technology. In Handbook of Research on Green Engineering Techniques for Modern Manufacturing (pp. 309-328). IGI Global.
Hofmann, E. (2019). Challenges in Ensuring Supply Chain Transparency in Europe. International Journal of Supply Chain Management, 8(4), 285-297.
Iansiti, M., & Lakhani, K. R. (2017). The Truth about Blockchain. Harvard Business Review, 95(1), 118-127.
Joshi, A., Kaur, M., & Suri, B. (2019). A Review of Blockchain Technology and Its Applications in Supply Chain Management. In 2019 IEEE 5th International Conference for Convergence in Technology (I2CT) (pp. 1-6). IEEE.
Lamba, V. (2019). Enhancing Supply Chain Traceability with Blockchain: A European Perspective. International Journal of Logistics Management, 30(2), 467-482.
Lee, J., Koo, C., & Kim, S. (2019). Securing Supply Chain Data with Blockchain Technology. International Journal of Information Management, 46, 182-193.
Nakamoto, S. (2008). Bitcoin: A Peer-to-Peer Electronic Cash System. Retrieved from https://bitcoin.org/bitcoin.pdf
Sánchez-Rodríguez, M., Cruz-Cunha, M. M., & Varajão, J. (2021). Blockchain in the Supply Chain: A Comprehensive Literature Review. Journal of Open Innovation: Technology, Market, and Complexity, 7(2), 78.
Swan, M. (2015). Blockchain: Blueprint for a New Economy. O'Reilly Media.
Wang, X., & Gunasekaran, A. (2016). Blockchain for Supply Chain Management: State-of-the-Art and Future Trends. International Journal of Production Research, 55(17), 5103-5119.
World Economic Forum. (2021). Bridging the Blockchain Policy Gap: A Comprehensive Toolkit for Policymakers.
Yli-Huumo, J., Ko, D., Choi, S., Park, S., & Smolander, K. (2016). Where Is Current Research on Blockchain Technology?—A Systematic Review. PloS One, 11(10), e0163477.
Zhou, J., Yang, Z., Chen, J., Wang, C., & Bu, J. (2020). Ensuring Food Safety with Blockchain: From Farm to Fork. Computers in Industry, 122, 103281. doi: 10.1016/j.compind.2020.103281
