Blockchain Technology in Supply Chains – What are the Opportunities for Sustainable Development?

Author
Katharina Krings, Jakob Schwab
Content Type
Working Paper
Institution
German Development Institute (DIE)
Abstract
While blockchain technology (BT) has gained a great deal of publicity for its use in cryptocurrencies, another area of BT application has emerged away from the public eye, namely supply chains. Due to the increasing fragmentation and globalisation of supply chains in recent years, many products have to pass through countless production steps worldwide (from raw material extraction to the point of sale). Ensuring the quality and sustainability of production in preceding steps is a major challenge for many firms and thus, ultimately, also for the consumer. BT offers potential for achieving significant progress on this front. Put simply, the blockchain makes it possible to verify data decentralised within a network, store it in a tamper-proof and traceable format and make it accessible to all members of a network.
Topic
Development, Science and Technology, Cryptocurrencies, Sustainability, Blockchain
Political Geography
Global Focus