Blockchain and IoT Integration for Secure and Transparent Supply Chain Management

Abstract

Even the tone of proposing the idea of Internet of Things (IoT) to the supply chain management process has already made quite a difference in the sense of promising a more efficient process in the operations process, inventory management and actual tracking of various goods in real time. But with regards to data security, data privacy and data transparency of the data, the question of the data appears in the case of IoT system in the supply chain. The block chain technology has been one of the solutions to such issues as it is an immutable transparent and decentralised technology. As it is a collaborative process, data integrity, traceability, transparent and secure transaction along the supply chain with use of IoT and the Blockchain can be contributed even by the organization. The paper has raised the issue of the combination of the Blockchain and IOT into the supply chain management especially its secure and transparent supply chain management and how blockchain can be used as a means of mesh-up of exchanges, the provenance of products and security of regulatory compliance. The condition of the application of the IoT devices in the context of the data collection and data transfer and the method that Blockchain can be employed in the context of the security of the collected data and its real-time transparency is also stated in the paper. The case studies and simulation represented by the document demonstrate that, it is possible to combine both Blockchain and IoT in a bid to enhance an effectiveness of the operations, and eliminate frauds, as well as allow general visibility of the supply chain. It also looks through the problems that are stepped on along with the implementation of such collective actions, and it is basing on it that answers are given to the questions on how to win the problems.