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Not only the commercial side of the supply chain is critical for long-term sustainability, but also the focus on environmental and social issues ensured the emergence of a more universal and holistic perspective to the supply chain. A more sustainable future supply chain network requires more improvement in tracking and transparent reporting systems. Moreover, consumers’ green behavior, incentive systems, and smart contracts should be efficiently developed. Blockchain technology’s properties could be a remedy for the challenges towards the economic, social, and environmental aspects of sustainability. Blockchain technology applications can improve the data exchange and tracking transactions in the supply chain. This research is based on a literature review and empirical insights from interviews conducted with five experts from four companies active in blockchain and supply chain activities. Results from the exploration of the literature and interviews with experts show how blockchain impacts the environmental, social, and economic aspects of sustainability in the supply chain processes. The role of blockchain is significant due to the employed cryptography, including hashing and encryption. Also, this study reveals that the most effective features of blockchain are decentralization, immutability, traceability, and transparency. Despite current obstacles to blockchain implementation in supply chains, this chapter provides an opportunity to strengthen customers’, suppliers’, and manufacturers’ positions in terms of product knowledge and supply chain processes related to the economic, social, and environmental issues which are vital for a sustainable business. In addition, the results show the companies’ decision-makers how their internal and external interactions and processes in their supply chains can be improved and executed on a more trustworthy, transparent, and reliable platform which leads to a better sustainability and productivity. Post-print / Final draft |
