Blockchain encompasses a permanently recorded digital ledger that is secure to share with multiple parties such as sellers, distributors, retailers, vendors, and end-users. The technology has the potential to be the digital supply chain’s backbone. Since blockchain provides a safe and reliable tracking mechanism from one end of the supply chain (the manufacture or mining of raw materials) to the other end of the supply chain (where the end-user receives the finished product). It aids in the fight against counterfeiting and is gaining popularity among key players in several sectors.

Supply chain operators are leveraging blockchain to log production updates to a common shared ledger, providing comprehensive data visibility and a single source of truth. Several industry players are implementing it to access a product’s status and the location at any time since transactions are always time-stamped and up to date.

However, blockchain is still an emerging technology with its share of potential concerns. Enterprises that intend to leverage blockchain technology in their supply chain must be aware of and prepared for the present obstacles