What are the barriers to adopting blockchain in supply chains?

Blockchain can enable more transparent and accurate end-to-end tracking in the supply chain : Organizations can digitize physical assets and create a decentralized immutable record of all transactions, making it possible to track assets from production to delivery or use by end user.

The results of this research indicate that the lack of business awareness and familiarity with blockchain technology on what it can deliver for future supply chains , are the most influential barriers that impede blockchain adoption.

Blockchain pilots run to date have not proven the technology’s unique value to the supply-chain sector. Blockchain technology is not yet able to capture data across a high number of untrusted parties. Delivering full transparency or traceability can be solved in other ways, not just by blockchain.

Blockchain can greatly improve supply chains by enabling faster and more cost-efficient delivery of products, enhancing products’ traceability, improving coordination between partners, and aiding access to financing .