Research on the Application of Blockchain Technology in Global Supply Chain Information Sharing — Enhancing Transparency and Collaboration

Abstract

The globalization of trade and commerce has introduced complexities in supply chain management (SCM), necessitating effective information sharing for enhanced transparency and collaboration. Traditional SCM systems, characterized by centralized databases and intermediaries, often lead to inefficiencies and information silos. This paper explores the application of blockchain technology in SCM, highlighting its potential to address these challenges by providing a decentralized, immutable, and secure platform for information sharing. Through a comprehensive review of literature and analysis of case studies in the food, pharmaceutical, and retail industries, this study demonstrates how blockchain enhances transparency, traceability, and efficiency. The findings indicate significant improvements in key performance metrics such as transparency, cost reduction, and risk management post-blockchain implementation. However, the study also identifies several challenges, including scalability, integration with existing systems, and regulatory compliance. The practical implications for supply chain managers and businesses are discussed, emphasizing the need for collaborative efforts and supportive regulatory frameworks to fully realize the benefits of blockchain technology in SCM.