Abstract
Because of its unique decentralization, encryption, reliability, and tamper-proof, the block chain system makes smart contracts break through the shackles of the lack of trusted environment, and its application field keeps expanding. We read the source code and official documents of Bitcoin, Ethereum, and Hyperledger to explore the operation principle and implementation mode of smart contract. By analyzing the evolution process of smart contracts in blockchain and the sequence of its function expansion, according to the multirole business process of supply chain, we design a semipublic smart contract chain model based on Ethereum and Hyperledger in order to provide useful inspiration and help for the future research of smart contracts in blockchain applied in supply chain.
Highlights
Chain is a network of companies and departments which acquires and processes materials into middleware or finished products and sends the finished products to customers. e entire process of supply chain includes multiple participating companies and multiple roles such as suppliers, manufacturers, and channel vendors
The biggest problem among the participants is the issue of trust, because only by building trust can the collaboration complete the overall product manufacturing and sales process. e primary problem faced by supply chain management is how to reduce the cost of trust so that each participant can effectively coordinate their internal and external resources to meet market demand
Blockchain technology has a wealth of application scenarios in the supply chain, such as logistics monitoring systems [8] and container shipment management [9]
Summary
Chain is a network of companies and departments which acquires and processes materials into middleware or finished products and sends the finished products to customers. e entire process of supply chain includes multiple participating companies and multiple roles such as suppliers, manufacturers, and channel vendors. E primary problem faced by supply chain management is how to reduce the cost of trust so that each participant can effectively coordinate their internal and external resources to meet market demand. Blockchain technology can effectively reduce the fragmentation, inefficiency, and incoordination of supply chain information and improve the efficiency of operations management [7]. Research using Permissioned Blockchain technology such as Hyperledger ignores the problem of duplication of supply chain construction costs [26]. (1) Explore the blockchain and smart contracts from the bottom of the technology and discuss the evolution process of smart contracts (2) Combine the advantages of the two types of blockchain technology to realize the user and role management functions in the public chain mode (3) Lower the threshold and cost of user participation and attract more users to participate
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