Evaluation of Blockchain-Based Tracking and Tracing System With Uncertain Information: A Multi-Criteria Decision-Making Approach

Blockchain technology has transformed data management by providing a decentralized, secure, and transparent way to record transactions. These blockchain-based tracking and tracing system features are critical for enhancing supply chain visibility, security, authenticity, and reliability. As industries increasingly adopt these systems, selecting the optimal architecture and configuration becomes a complex decision-making challenge. Moreover, the diverse range of criteria such as scalability, security, and cost affect in making decisions. By considering it, this study evaluates various blockchain-based tracking systems within the fuzzy framework. The paper introduced the COCOSO model within the Picture Fuzzy (PF) framework. This decision-making tool considers multiple conflicting criteria and then utilizes it to evaluate the real-world scenario of a blockchain-based tracking and tracing system. Moreover, the importance of decision-making in blockchain-based systems, their societal impacts, risk mitigation, and their ethical and environmental impacts have been defined. Moreover, to verify the validity and reliability of the proposed approach, a comparison analysis was performed to show the efficacy of the proposed model. Finally, concluding remarks are discussed, which conclude the discussion by defining its advantages, limitations, and future direction.