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Applications and Potential Impacts of Blockchain Technology in Logistics and Supply Chain Areas
(2022)
The motive of the present thesis is to analyze the applications and potential impacts of blockchain technology in the logistics and supply chain areas. For this purpose, the literature from different sources has been used to analyze and get an overview of the current status and role of blockchain technology within the logistics and supply chain areas. Different use cases, as well as pilot projects from organizations all over the world and also from Germany, have been included. Suggestions for further applications and implementations of blockchain technology along with their potential impacts have been made. Additionally, the cost of implementing blockchain-based solutions and applications has been estimated along with providing recommendations and suggestions for important and key points to be considered before preparing and deciding to implement blockchain-based solutions in any organization.
As economies are getting more and more interconnected, the importance of the global logistics sector grew accordingly. However, both structural challenges and current events lead to recent supply chain disruptions, exposing the vulnerabilities of the sector. Simultaneously, blockchain has emerged as a key innovative technology with use cases going far beyond the exchange of virtual currencies. This paper aims to analyze how the technology is transforming global logistics and its challenges. Therefore, six use cases, are presented to give an overview of the technological possibilities of blockchain and smart contracts. The analysis combines theoretical approaches from scientific journals and combines them with findings from real-world implementations. The paper finds that the technology can change supply chain design fundamentally, with processes and decisions being automated and power within supply chain structures changing. However, implementations also face technological, environmental, and organizational challenges that need to be solved for wide-spread adoption.