International policy coordination for blockchain supply chains

Abstract

From the adoption of the shipping container to coordinated trade liberalization, reductions in trade costs have propelled modern globalization. In this paper, we analyse the application of blockchain to reduce the trade costs of producing and coordinating trusted information along supply chains. Consumers, producers, and governments increasingly demand information about the quality, characteristics, and provenance of traded goods. Partially due to the risks of error and fraud, this information is costly to produce and to maintain between dispersed parties. Recent efforts have sought to overcome these costs-such as paperless trade agendas-through the application of new technologies. Our focus is on how blockchain technology can form a new decentralized economic infrastructure for supply chains by governing decentralized dynamic ledgers of information about goods as they move. We outline the potential economic consequences of blockchain supply chains before examining policy. Effective adoption faces a range of policy challenges including regulatory recognition and interoperability across jurisdictions. We propose a high-level policy ---This is an open access article under the terms of the Creative Commons Attribution License, which permits use, distribution and reproduction in any medium, provided the original work is properly cited.

Blockchain technology in supply chain operations: Applications, challenges and research opportunities

“…Table 6 discusses some of the challenges for blockchain implementation in SCs ( Allen et al, 2019 , Hartley and Sawaya, 2019 , Kumar et al, 2020 , Wang et al, 2019a ). Note that in the literature, a unified theory of acceptance and use of technology model has been established to study the adoption factors (see Queiroz et al, 2019 ).…”

“… 56 Toyoda et al (2017) It develops a product ownership management system for anti-counterfeits in post SC. Adoption and implementation of blockchain in supply chains 57 Allen et al (2019) It states that blockchain as a decentralized economic infrastructure can be applied for reducing the trade costs across complex global SCs. Block chain technology has potential to not only make the existing SCs more efficient but also open up new markets and trading patterns.…”

A Comparative Study: Blockchain Technology Utilization Benefits, Challenges and Functionalities

“…In addition, waste management (liabilities related to disposal) energy usage for green SCM [119] is related to a widespread phenomenon in the operation management field. Global SCM is in a complex environment with regulations and government decisions [136] [155], and the adoption of blockchain is very important for SC; it enhances the benefit for all stakeholders (namely, actors) who participated in the process [98]. Moreover, production and internal operations, for example, blockchain implications related to acquiring and maintaining certification, such as ISO 14001 and 14000, should be aligned with operation programmers and strategies [119].…”

Blockchain for Public Services: A Systematic Literature Review

“…Regarding challenges, international standardization of blockchain legal requirements is essential for customs activities. Furthermore, it will be important to legally clarify which jurisdiction applies to international blockchains, and thus, which laws they should comply with [44].…”