Securing Supply Chain Network with Blockchain

Project digest: blockchain is a method of storing data that makes it difficult or impossible to alter, hack or cheat it. Blockchain uses Web3.0 technology, and Web3.0 will emerge from the natural evolution of older-generation web tools combined with cutting-edge technologies such as AI and blockchain, as well as user interconnection and increased internet usage. Ethereum is a decentralised, open-source blockchain that supports smart contracts, and smart contracts are a type of permission-less app that executes automatically when the contract's conditions are met. These smart contracts are usually used in dApps — applications that run on networks not controlled by a single authority.

Many supply chains face challenges that have significant implications in terms of cost, speed and product quality. By leveraging the technology's decentralised cloud database, which records data in non-changeable blocks that can be shared with any number of players, global players like Walmart intend to increase transparency and drive value at every step of the supply chain.

Aim and scope: the main aim of this project is to achieve transparency within a supply chain network, which can be achieved through the use of blockchain technology. The use of blockchain in the supply chain has the potential to improve supply chain transparency and traceability while lowering administrative expenses and paperwork.