Competent methods to shield the SCM from new age blockchain attacks

Abstract

The interior technology of the blockchain is the decentralized ledger, which can be used to record and secure transaction data across many parties in a blockchain. Cryptocurrencies such as Bitcoin, Ethereum, and other coins can use the blockchain to perform transactions between infinity and unknown parties without the need for an intermediary. A blockchain-based supply chain can support participants in recording price, location, cost, certification, quality, and other significant information. As a characteristic of blockchain, the information available within the blockchain can provide traceability of the material supply chain, reduce losses from the fake and grey markets, improve visibility and agreement over outsourced contract manufacturing, and effectively enhance an organization's position as a leader in responsible manufacturing. This paper proposed a Supply Chain Management (SCM) framework and tested it against various blockchain-based new age attacks, like peer-to-peer network-based attacks and consensus and ledger-based attacks, to analyze the impact of SCM.