Abstract
The objective of this paper is to understand the industry perspective towards the benefits of embedding blockchain technology (BCT) in global supply chains (GSC). A qualitative approach with the view of transaction cost economics (TCE) and diffusion of innovation (DOI) theory is applied. Semi-structured interviews with 23 industry experts showcased the benefits of application of BCT into GSC and this yielded interesting themes and sub-themes using the thematic analyses first yielding, the critical issues and challenges in traditional supply chains (TSC) and second, how BCT can contribute to overcome these challenges to support digital GSC; and third, possible challenges adapting BCT. This study advances the supply chain decision making complemented with elements of TCE and DOI theory through the application of BCT. GSC managers can deploy BCT integrated with the Internet of Things to effectively meet worldwide supply chain demands and complex situations.
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