A Study on Importance of Blockchain Technology in Logistics Supply Chain Management

Blockchain is a decentralized data storage network where information is stored in a cryptographically secured block and maintained by a public ledger to protect against any alteration. This has been popularly used in financial systems but also has huge potential in other sectors such as health, smart city, and logistic. The supply chain logistic system is essential for whole management, starting from the raw material of industries until the last consumer delivery. This logistic management is faced with challenges such as transparency, delay in orders, lag in the information updating, multiple data entries. These can be diminished with this scattered technology. So, this article gives an overview of decentralized data storage networks by blockchain technology and their evolution and importance in logistics/supply-chain management. This article aims to traverse viable use of this scattered computing and its importance in supply chain logistics management.