Exploring the current status and future opportunities of blockchain technology adoption and application in supply chain management

Duan, Keru; Pang, Gu; Lin, Yong

doi:10.1016/j.jdec.2024.01.005

Cited by 11 publications

(2 citation statements)

References 125 publications

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“…According to the World Economic Forum (World Economic Forum, 2024), BT, in addition to AI, is a boon for the higher educational institutions since it increases the efficiency of scientific research, security, credibility, accessibility for learners, and the institutions, democratizes the industry by breaking the institutional barriers. Some of the leading institutions that have already adopted blockchain in their teaching-learning initiatives include MIT, University of Utah, etc., The adoption of BT in supply chain (Duan et al, 2023) is driven by internal (asset management, quality control improvement, demand forecast and inventory management, cost reduction, security and commitment from the leadership), and external factors (sustainability issues, cooperation and collaboration, technology evolution, efficient logistics, and competition).…”

Section: Adoption Of Blockchain Technology In Multiple Industriesmentioning

confidence: 99%

Blockchain technology and its importance for the growth and prosperity of Indian small and medium-sized enterprises

Rena

2024

IJCMS

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Introduction: Blockchain technology (BT), since its invention, has revolutionized the business environment across the globe while the Indian small and medium-sized enterprises (SMEs) are yet to adopt this technology in a wide-spread level. In this background, the current review provides an overview of the technology and its features, successful adoption in other industries and SMEs and how Indian SMEs can gain benefits. Problem: Although the BT has been hailed as a boon for the future, there exist a few challenges as well such as energy consumption, environmental issues, and policy-level hindrances. The current study makes an attempt to identify the issues and provide possible solutions to overcome these challenges. Methodology: The current study is a narrative review that analyses the secondary data available from government reports, research articles, corporate research publications, UN and other international bodies' reports, and so on. This narrative review article conducts an in-depth analysis of various perspectives of the variables considered for the study. Findings: The study found that the Indian SMEs, in spite of the challenges faced, can still gain a huge advantage by leveraging the technology for which the government ecosystem, political climate, global economic conditions, steady market situations, and the mindset among the SME owners and decision-makers must work cohesively. Recommendations: The current study has provided a few policy-level recommendations for sustainable growth of the SMEs in the near future.

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Section: Adoption Of Blockchain Technology In Multiple Industriesmentioning

confidence: 99%

Blockchain technology and its importance for the growth and prosperity of Indian small and medium-sized enterprises

Rena

2024

IJCMS

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“…The network topologies were used to timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. The blockchain technologies has been adopted into several applications due to its transparency, security, cost effective transactions, and fast transactions [12], [13]. This concept has tremendous impacts on the advancement of endless utilization of blockchain technologies into various secured systems.…”

Section: 1mentioning

confidence: 99%

The Frameworks of Cross Border Cryptocurrency Transactions Between Two Countries

2024

IJFMR

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Cross border payments have been the biggest challenges in overseas business transactions. It is characterized by frauds, lack of security, money laundering, transactions delays, and huge transactions cost. The aim of this paper is to introduce new model of cross border digital currency transactions that would use the cryptocurrency from two different countries. The model has adopted the blockchain technology to authorize the smart contracts and proof of works under the monitoring of central banks of participating countries. In this model each country would adopt its own digital currency equivalent to the fiat/cash money value. Unlike the traditional blockchain networks which is considered to be decentralized systems, this model has deployed centralized blockchain networks under the control of central banks. All nodes in the network will be owned by central banks that would records and trace any transactions by using blockchain technology. Apart from central banks, this model includes local banks, and digital forex exchange market as their main stakeholders to serve the customers. As a centralized system, any smart contracts and proof-of-works resulted from any desired transactions is validated by the central banks of participating countries before execution. The customers have been losing their money during transactions through decentralized privately owned digital currency exchange vendors due to the lack of enough network policy to counter any fraud or suspicious transactions. Also, the cross-border transactions are encountered by the excessive of fees such as, agent fees, oversees fees, transactions fees, and exchange fees. This system is usefully to secure and speedup the transactions, prevent any frauds, and to avoid the overseas financial organizations costs that has been incurred by the customers over the years. The governments around the world would have the total control of the monetary transactions if they deploy digital currency on their economy. However, they are required to tighten the security measures to prevent any security vulnerabilities, frauds, threats, and get rid of money laundering activities.

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Achieving fairness in the food system

Onyeaka,

Duan,

Miri

et al. 2024

Food and Energy Security

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The challenge of feeding an additional 2 billion people by 2050 is one of the most pressing issues of our generation. The required changes in the current food system must be achieved while reducing the negative environmental impacts of current farming practices on our climate and biodiversity and avoiding deforestation. This formidable challenge must be overcome in a projected climate that is more variable and where extreme weather events are increasingly common. While the green revolution, agricultural land expansion and agrotechnological innovations have significantly increased crop productivity over the last 50 years, the gains in the yields of most major crops have reached a plateau. Moreover, global hunger remains at a record high. Climate change‐associated changes in weather patterns have decreased the yields of major crops. Further land expansion is impossible without severe trade‐offs with biodiversity and climate change mitigation. Wars and pandemics are currently severely disrupting the global agri‐food system, increasing prices and exacerbating food insecurity, with the world's poorest suffering the most. The climate change–social instability nexus will continue to cause additional stress to the agri‐food system. Here, we consider the inequities in the current food system, highlighting the weak interconnection among research, policy and societal action that is hindering mitigation and adaptation efforts. We argue that improved interconnections among research, policy, governance and societal action will unlock the potential to achieve food security while supporting climate change mitigation targets. Our analysis includes specific strategies such as strengthening small‐scale farmers, promoting fair trade practices and reducing food waste to achieve these goals.

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Exploring the current status and future opportunities of blockchain technology adoption and application in supply chain management

Cited by 11 publications

References 125 publications

Blockchain technology and its importance for the growth and prosperity of Indian small and medium-sized enterprises

Blockchain technology and its importance for the growth and prosperity of Indian small and medium-sized enterprises

The Frameworks of Cross Border Cryptocurrency Transactions Between Two Countries

Achieving fairness in the food system

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