Blockchain For Sustainable And Transparent Supply Chain Management In The Digital Economy
Abstract
With the support of blockchain technology, the digital economy has gained momentum. To strengthen the transparency and sustainability involved with supply chain operations and stakeholder trust. This research used a novel combination of correlation analysis, TOPSIS evaluation, and summary statistics of the final decision outcomes from supply chain datasets to construct a blockchain-based framework to enhance accountability, traceability, and environmental performance of global networks that integrate the digital economy. Based on the research question, “Whether blockchain is more effective compared to traditional supply chain systems and more beneficial in terms of transparency and resilience?”, a model was created to validate a multi-criterion ranking in the sustainable economy and digital trade. An empirical analysis based on the findings was developed using a correlation-TOPSIS framework, enabling us to collect comparative results across companies and regions. Data is interfaced with platforms at multiple operational stages of production and distribution, which require higher data security and use more computing resources than other tools commonly used with cloud-based logistics. The results show that the development of blockchain applications with sustainable practices can be categorized into three clusters in alignment with the objectives of the study: governance, performance, and trust. As for managerial implications, by building the linkage between the features of blockchain platforms and users’ expectations, practitioners have to realize that although the blockchain architecture has a certain degree of transparency, the operational rules, governance mechanisms, and adoption processes behind those platforms are all different.