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Journal of Automation and Information Sciences
SJR: 0.275 SNIP: 0.59 CiteScore™: 0.8

ISSN Imprimer: 1064-2315
ISSN En ligne: 2163-9337

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Journal of Automation and Information Sciences

DOI: 10.1615/JAutomatInfScien.v51.i11.60
pages 63-74

Problems and Prospects of Blockchain Technology Usage in Supply Chains

Оleg N. Zagurskiy
National University of Life and Environmental Sciences of Ukraine, Kiev
Lyudmila L. Titova
National University of Life and Environmental Sciences of Ukraine, Kiev

RÉSUMÉ

Global supply chains more and more depend on implementation of modern information technologies which contribute to expenses decrease, improvement of processes quality and increase of mutual transparency. Transition history tracking possibility between a sender and a consumer throughout the whole supply chain is a key factor especially if there is a distrust problem between chain members. This article studied principles of blockchain practical application and distributed ledger construction in addendums of blockchain. The main attention is paid to analysis of integration increase in supply chains between business partners based on digital data and web-transferred funds. The ways of application of blockchain technology to increase sustainability of agricultural product supply chain are determined. The application of blockchain technology in supply chain of agricultural product will provide a close connection between financial, logistic and commercial participants of trade and economic transactions with an opportunity of payments and supplies unification. The conducted analysis showed that blockchain technology concentrated around tangible and financial assets commerce is potentially the most interesting for both transactions and management processes inside organizations and between them. Processes, strategies and practice of blockchain technology application in supply chain indicate its vast potential and wide opportunities for development and increase of organizations efficiency. Blockchain technology application can increase competitive advantages of companies and decrease a risk by increasing a reliable information about supply chain members especially when two entities perform such operation for the first time.

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