Improved block chain system for high secured IoT integrated supply chain

Abstract

The incredibly complex supply chains in today's world face significant problems in terms of accountability and reliability. Blockchain technology could be able to solve these problems by offering a tamper-proof audit trail of supply chain activities & data on a product lifecycle, but it could resolve the issue of information's inherent lack of reliability. Current Reputation systems offer a practical solution to the confidence issue. Moreover, it is based on a small number of observations, lack granularity or mechanization have considerable overhead, current reputational methods are not suitable for blockchain-based supply chain operations. In this research, we present TrustChain, a three-layered system for managing trust that tracks connections between supply chain actors and automatically calculates trust and reputation scores based on those connections using a consortium blockchain with Internet of Things (IoT). Trustchain would be novel because it supports reputation rankings that distinguish between supply chain participants & goods, allowing the assignment of product-specific reputations for the same participant, (a) the reputation design that assesses the performance of commodities and the trustworthiness of entities based on several observations of supply chain events, (b) the use of smart contracts for transparent, impactful, safe, and automated computation of reputation rating, and (c) reputation scores that differentiate between supply chain members and services.