What is the impact of blockchain technology on ensuring transparency and accountability in supply chains and governance?

Introduction

Blockchain technology, a decentralized and immutable digital ledger, has garnered significant attention for its potential to enhance transparency and accountability in supply chains and governance. This synthesis examines the impact of blockchain on these areas, drawing insights from multiple research papers.

Key Insights

Transparency and Traceability in Supply Chains:
- Blockchain provides a transparent, immutable, and traceable ledger that enhances visibility and traceability in supply chains, reducing fraud and improving product authenticity .
- The technology ensures end-to-end traceability, which is crucial for managing food safety and quality, and for quickly identifying and removing contaminated products from the market .
Sustainability and Efficiency:
- Blockchain can improve supply chain sustainability by enhancing environmental protection, social equity, and governance efficiency. It supports the achievement of the UN's Sustainable Development Goals (SDGs) by providing a reliable system for tracking and managing resources .
- The technology helps in reducing transaction costs and improving the efficiency and responsiveness of supply chains by eliminating the need for intermediaries and ensuring transparent transactions .
Challenges and Barriers:
- Despite its potential, blockchain faces several adoption barriers, including inter-organizational, intra-organizational, technical, and external challenges. Overcoming these barriers is crucial for the widespread adoption of blockchain in supply chains .
- The regulatory landscape, data privacy concerns, interoperability issues, and scalability are significant challenges that need to be addressed to fully harness the potential of blockchain technology.
Governance and Accountability:
- Blockchain enhances governance by providing a decentralized system that ensures data integrity and accountability. It limits opportunistic behavior and reduces the impact of environmental and behavioral uncertainty in supply chain transactions .
- However, there are concerns that blockchain might perpetuate existing governance issues by reinforcing audit cultures that have historically failed to address labor and environmental abuses effectively.

Conclusion

Blockchain technology holds significant promise for enhancing transparency, traceability, and accountability in supply chains and governance. It can improve sustainability and efficiency by providing a reliable and transparent system for managing resources. However, several challenges, including regulatory, technical, and organizational barriers, need to be addressed to fully realize its potential. Collaboration between industry players, governments, and regulatory bodies is essential to overcome these challenges and harness the transformative power of blockchain technology.

What is the impact of blockchain technology on ensuring transparency and accountability in supply chains and governance?

Summary

Introduction

Key Insights

Conclusion

Sources and full results

Blockchain technology and its relationships to sustainable supply chain management

Blockchain technology shows promise for enhancing supply chain sustainability by ensuring transparency, traceability, and security, but must overcome various adoption barriers.

The Effect of Blockchain Technology on Supply Chain Sustainability Performances

Blockchain technology has the potential to improve supply chain sustainability performance in environmental protection, social equity, and governance efficiency.

Achieving UN SDGs in Food Supply Chain Using Blockchain Technology

Blockchain technology can potentially improve food supply chain sustainability by providing transparency, traceability, and reduced environmental impact, helping achieve UN Sustainable Development Goals.

The veil of transparency: Blockchain and sustainability governance in global supply chains

Blockchain-based initiatives in global supply chains may not effectively address sustainability challenges, as they reinforce existing managerialization and audit culture, potentially creating a'veil of transparency' over abuses.

1 Blockchain's roles in meeting key supply chain management objectives

Blockchain technology can significantly improve supply chain management objectives, including cost, quality, speed, dependability, risk reduction, sustainability, and flexibility, while increasing transparency and accountability.

The power of a blockchain-based supply chain

Blockchain integration in supply chains can create a reliable, transparent, authentic, and secure system, addressing challenges in visibility and transparency.

Application of blockchain technology for sustainability development in agricultural supply chain: justification framework

Blockchain technology enhances sustainability in agricultural supply chains by providing data privacy, decentralization, immutability, smart contracts, and increased resilience.

Blockchain and supply chain relations: A transaction cost theory perspective

Blockchain technology reduces transaction costs and opportunistic behavior in supply chains by enabling more efficient and transparent transactions.

Exploring the impact of blockchain on the performance of agri-food supply chains

Blockchain technology positively impacts agri-food supply chains by increasing profit, food quality, and information management, while also improving behavioral uncertainty management and firm knowledge.

The Role of Blockchain Technology in Enhancing Supply Chain Transparency in Europe

Blockchain technology can enhance supply chain transparency and efficiency in Europe, but requires a supportive regulatory framework and collaboration between industry players, governments, and regulatory bodies.

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