The upstream and downstream of the supply chain will cause information asymmetry in the supply chain formation due to multilateral participation. There must be a lot of interaction and collaboration between different subjects, and all kinds of information generated during the entire supply chain operation are discretely stored in their respective systems, and the information flow lacks transparency. This will bring two kinds of serious problems: First, because the information is not transparent and not smooth, it is difficult for the participating entities on the chain to accurately understand the status and existing problems of the related items, thus it will affect the efficiency of the supply chain; Second, when there is a dispute between the subjects in the supply chain, it is time-consuming and laborious to prove and blame, and even in some cases it becomes impossible.
First, blockchain technology enables data to be transparent between parties during the transaction, thereby it can create a complete and streamlined flow of information across the whole supply chain, and this can ensure that participants are aware of the problem of the supply chain system in a timely manner and accurately solve problems, thereby it can improve the overall efficiency of supply chain management. Secondly, the data of the blockchain can not be falsified and the existence of the time stamp can be used to solve the disputes between the participating entities in the supply chain system, and easily achieve proof and accountability. Finally, the combination of untamed data and traceable transaction can eliminate the counterfeiting problem in the product circulation process in the supply chain.
Each terminal uploads information to the blockchain
Forming a complete and smooth flow of information
Finding problems in the operation of the supply chain
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