The COVID-19 Outbreak

Blockchain-Secured Transactions in Supply Chain Orchestration

Authored by: Sushant Kumar , Vinita Tiwari , Basant Agarwal , Jagannath Jayanti

Handbook of Green Computing and Blockchain Technologies

Print publication date:  December  2021
Online publication date:  December  2021

Print ISBN: 9780367620110
eBook ISBN: 9781003107507
Adobe ISBN:

10.1201/9781003107507-7

 Download Chapter

 

Abstract

The coronavirus disease (nCoV-2019) pandemic has brought about significant disturbance to people and businesses globally. It has exposed the lapses in global healthcare and has raised serious questions around modern science and its ability. COVID-19, which has been declared a global pandemic by the World Health Organization (WHO), has left several challenges to the twenty-first century, raising serious doubts around the technological, engineering, and scientific advances made through the collective efforts of human civilization. The virus has the potential to transmit and spread across huge masses of people at an alarmingly high rate. Therefore, quarantine and lockdown have been mandated all across the world, to prevent the virus from being disseminated. Unfortunately, this decision to alleviate the situation also had repercussions. Because of the lockdown in the entire world, businesses have either shut down or have come to an untimely halt. Many employees have been laid off from organizations, who themselves have suffered to generate the revenue in parity with what they used to prior to the outbreak of the virus. Small vendors and small businesses like barbers, vegetable sellers, etc. and daily earners are in an implacable position as they have lost their means to daily bread and butter. Many workers who migrated to metropolitan cities are compelled to travel back to their hometown, which also proved to be a daunting task as a result of the lockdown and temporary termination of travel services. The world has faced major economic loss. Methods to overcome this adverse situation are extensively explored. One of the most significant aspects of the large businesses in the modern era is the supply chain, which is the entire network that enables the product right from its onset to reach the final buyer. Blockchain technology provides an efficient and secure method for supply chain management in industry. This paper presents a secure blockchain-based model for the supply chain orchestration. The proposed model is based on a blockchain ecosystem framework where all stakeholders can join and augment business activities. Immutability, transparency, and automation are the biggest benefits of blockchain.

 Cite
Search for more...
Back to top

Use of cookies on this website

We are using cookies to provide statistics that help us give you the best experience of our site. You can find out more in our Privacy Policy. By continuing to use the site you are agreeing to our use of cookies.