A review of sustainability concerns in the use of blockchain technology: Evidence from the agri-food and the pharmaceutical sectors

Abstract

Blockchain is an evolving technology with promising applications in various sectors. The introduction of blockchain in the industry has the potential to provide a significant competitive advantage, even though it still is in the early stages of its adoption, particularly in supply chains. The implementation of blockchain technologies affects all the operational aspects of a production and supply chain system, including its sustainable performance. In these terms, there is a raising of concerns regarding the impact of the integration of blockchain on the economic viability of the organization, the total environmental footprint that results from its use, and the social matters regarding its control, safety assurance, and governance. The scope of this paper is to identify the implications of the integration of blockchain technologies in the industry concerning the three main pillars of sustainability.

Addressing Challenges: Adopting Blockchain Technology in the Pharmaceutical Industry for Enhanced Sustainability

“…In the pharmaceutical industry, blockchain technology can guarantee data consistency and security through a single source of truth, reliable verification procedures, and tamper-proof transactions. The transparency and tamper-proof nature of blockchain technology can facilitate drug monitoring, eliminate fraud, and enhance supply security [45].…”

“…There are concerns regarding the complexity and cost of integrating blockchain technology into existing infrastructure and processes. This can involve significant investment in technology and expertise and potential disruptions to operations during the implementation phase [45]. Furthermore, scalability remains challenging for blockchain networks, particularly in pharmaceutical industries with high transaction volumes.…”