Using blockchain to drive

supply chain transparency

Use cases and future outlook on
blockchain in supply chain management
June 2023
Using blockchain to drive supply chain transparency | Use cases and future outlook on blockchain in supply chain management

Contents

Introduction 3
Current supply chain landscape 3
How can blockchain help? 4
Potential benefits of using blockchain in supply chain 4–6
Key challenges for using blockchain in the supply chain 6–7
Stakeholder buy-in and adoption 7
Case studies: Three Deloitte-led blockchain projects 8–9
Conclusion 10
Authors and Contributors 11
Endnotes 12

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Using blockchain to drive supply chain transparency | Use cases and future outlook on blockchain in supply chain management

Introduction
The COVID-19 pandemic gave the world a close-up
view of the key factor determining the effectiveness of
an organization—its supply chain management. Using
blockchain can improve both supply chain transparency
and traceability as well as reduce administrative costs.

Current supply
chain landscape
Until COVID struck in 2020, consumer expectations revolved around Enhancing these three drivers can help executives and their
a two-hour delivery model. But when the pandemic disrupted enterprises achieve transparency, track provenance and compliance,
that model, consumers soon discovered the implications of the and enhance brand loyalty. For many organizations seeking to
term “supply chain” as they confronted delays in the delivery of master their supply chains, this is where blockchain enters the
household goods — everything from toilet paper, mobile phones, picture. Blockchain is a record of transaction data that relies on a
and entertainment equipment to gaming consoles and home office shared ledger. This ledger is inherently tamper-evident and provides
furniture. With knowledge comes new expectations. And now a trusted shared and reliable way to record, validate, and view
both consumers and organizations alike are looking to technology transactions across a complex system with many participants, some
to enhance supply chains and alleviate, or at least mitigate, any of whom may not inherently trust each other.
bottlenecks in the system. Nevertheless, technology is no silver
bullet. Supply chains are often hostage to a host of factors including In the past, supply chain leaders had to rely on redundancy to
geopolitical tensions, cyberattacks, inflation, droughts that disrupt mitigate supply chain disruptions. While some redundancy may
shipping by lowering water levels, and critical product stockouts, as always be necessary—especially for critical materials—solutions
well as the many unforeseen effects of global warming. like blockchain can help companies proactively detect and mitigate
supply chain risks before any severe impact occurs. For example,
Given all these disruptions, many companies, and those responsible to increase transparency and traceability, companies in resource-
for supply chain effectiveness, are rethinking their lean and intensive industries have turned to blockchain solutions to help
just-in-time planning as well as issues related to source, make, control Scope 3 emissions.2 Finally, because global supply chains
deliver, and return processes and systems. Moreover, supply chain involve many discrete entities that are frequently separated by
executives are increasingly required to predict, and proactively several degrees in terms of their interests, the quality and opacity of
mitigate, vulnerabilities in the supply chain. For that reason, these information invariably degrades trust among parties. Technologies
executives are focusing their strategic investments on three key like blockchain can help offset such detrimental effects by ensuring
effectiveness drivers:1 the authenticity of information and transparency during
upstream transactions.
1. Predicting supply chain risk

2. Enabling environmental, social, and governance (ESG) tracking

through supply chain traceability

3. Enhancing trust in a complex, multi-stakeholder environment

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Using blockchain to drive supply chain transparency | Use cases and future outlook on blockchain in supply chain management

How can
Reduced risk

The issue: Most supply chain risks fit within one of four categories—

blockchain help?
sourcing, transport, facility, or distribution. Each potential risk arises
at a different step in the traditional source, make, and deliver process.

1. Sourcing risks occur upstream when a supplier suddenly fails to

provide goods or services on time.
When thinking about how best to apply blockchain technology in the 2. Transport risks occur with a disruption to a company’s inbound or
supply chain, it is important to remember that supply chains are, at outbound logistics.
their core, a network of interlinked companies. In that network, each
business adds value to a product or service before it reaches the end 3. Facility risks coincide with interruptions in warehousing and
user. This exchange and accumulation of value is recorded through manufacturing operations.
a series of transactions, or flows, of information, goods, services,
and finances.3 A “permissioned blockchain” offers the potential of 4. Finally, distribution risks manifest downstream when demand
recording these transactions (both physical and virtual) on a shared spikes or flatlines.
and immutable ledger, which enables the capture, validation, and
Opportunity for blockchain: Access to reliable data can help mitigate
sharing of data across these interlinked companies. Ultimately, all
all these risks thanks to the timely identification of issues and
parties have access to a seamless exchange of value and a single
potential alternatives. Yet, accessible, complete, and accurate data
source of truth that was previously impossible. For more and more
is not always easy to come by in a supply chain. The sheer number
use cases (e.g., predicting risk; enhancing visibility and traceability for
of parties involved, such as suppliers, manufacturers, distributors,
critical product components; increasing data accuracy, immutability,
retailers, and logistics providers, complicates matters. Moreover,
and trust among value partners), blockchain strengthens global
since parties in a supply chain typically store data in silos, there is
supply chains. Moreover, blockchain technology is mature enough to
a lack of data sharing among them, and the accuracy of that data
interface with, and take advantage of, other emerging technologies
can vary considerably. Blockchain helps address all these issues by
such as Internet of Things (IoT), smart contracts (pieces of code
creating a trusted, shared, and decentralized ledger that eliminates
stored on a blockchain), and artificial intelligence (AI) to provide an
silos and guarantees all parties access to that ledger thanks to
enhanced and secured supply chain.
tamper-proof records that help ensure the data’s trustworthiness.
The next section discusses the potential benefits of blockchain in
Consider this example. Blockchain, integrated with AI and data
each of these areas.
shared across cellular networks via Internet of Things (IoT) devices,
can help companies monitor and expedite the identification of
bottlenecks in the supply chain, thereby mitigating transport risks.

Potential benefits
This, in turn, can allow businesses to better anticipate the possibility
and extent of delays.

of using blockchain
Within the different facilities of a business, participants can reduce
specific facility risks by leveraging satellites, IoT devices, and
cellular networks connected to the blockchain. This allows them to

in supply chain
monitor and provide real-time alerts about inventory levels and any
disruptions at key inbound or outbound handoff points to upstream
and downstream partners. Blockchain captures the collected
data points as immutable records, which managers can access
to trace and identify points of disruption and plan any necessary
product reroutes. Blockchain also helps mitigate potential insurance
As noted earlier, blockchain has the potential to unlock significant
disputes between parties by embedding insurance policies
value for organizations by reducing supply chain risk, increasing
within smart contracts that will automatically execute their terms
visibility, and enhancing trust across a complex ecosystem.
when triggered by a given event (e.g., weather-related disasters,
Additionally, since blockchain does not displace a company’s legacy
cybersecurity attacks).
systems, blockchain technology can serve as an add-on enterprise
solution that increases value while still maintaining existing Finally, downstream, blockchain can help mitigate distribution risk.
enterprise resource planning (ERP) software systems or other It allows organizations to build digital inventories that are accurate
current systems. Let’s consider three examples of how blockchain and immutable by implementing AI to obtain real-time insights into
can deliver tangible benefits. demand shifts, patterns, and potential disruptions. All that helps
companies make informed planning and inventory management

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decisions and more effectively manage the flow of goods down to chain visibility can be particularly effective in industries involving
the last mile. materials prone to unethical sourcing such as “conflict diamonds.”
The mining of these rare stones often occurs in countries with
Real-life example: Multiple entities within the Mitsubishi Group corrupt or weak regimes, where there is a significant risk of human
decided to explore the value of blockchain for various stages of rights abuses, including forced labor and child labor.
their supply chain. As the world’s largest producer of methacrylates
(a basis for the polymers used in the manufacture of a wide range In the case of diamonds, it is, therefore, important for consumers
of medical equipment, from intravenous tubes to heart valves), to be able to trace the origin of their purchase to ensure that it has
Mitsubishi Chemical Group conducted a pilot project. Its goal? To been ethically sourced. Another case in point is lithium batteries.
enhance sourcing capabilities and provide both the enterprise Given their huge global demand, they are prone to counterfeiting.
and consumers with trustworthy data on the true origins of all its But thanks to blockchain, manufacturers can counter that by
products.4 The pilot provided the group with the ability to trace assigning barcodes to products and by generating unique tokens
the full chain of custody and distinguish between the origins of the (i.e., digital twins). Each token contains cryptographic seals that
material (conventional versus recycled materials) through the use of denote the certification, originator, registry, and other data that
colorized tokens (red versus green). As a result, Mitsubishi was able prove the authenticity of each battery.9
to assemble the necessary evidence in cases where the materials
received did not meet contractual standards.5 Real-life example: De Beers, one of the largest diamond producers
in the world, has implemented a blockchain-based tracking system
Meanwhile, Mitsubishi Logistics also implemented its ML called Tracr. Tracr allows De Beers to track diamonds from the point
Chain platform. It allows the entity to sustainably manage where they are mined, through the cutting and polishing process,
facility, transportation, and distribution risks for its outsourced and ultimately to the end consumer. This technology provides
pharmaceutical shipments. It also provides clients with quality tamper-proof source assurance at scale, encourages consumers’
assurance guarantees that products are stored under proper confidence in the ethical sourcing of their diamonds, and helps to
conditions (e.g., proper temperatures) during transport from combat the trade in conflict diamonds.10
pharmaceutical factories and logistics hubs to wholesalers. The
platform’s distributed ledger technology helps ensure that data is Improved trust
tamper-proof and easily accessible to Mitsubishi Logistics’ client
The issue: In a large, global supply chain that encompasses many
base so all parties can flag potential issues at their source of origin
parties, anchor companies may find it difficult to trust their upstream
along the blockchain.6
counterparts. Visibility and trust recede rapidly for most companies,
Enhanced visibility even after the second tier of relationships. Such lack of trust has
been warranted in the past, given counterfeit and gray market trade,
The issue: Many companies struggle with a lack of end-to-end the mistreatment of workers, and inconsistencies in sustainability
visibility and transparency in their supply chains.7 Despite the practices among partners in the supply chain.11
growing ESG expectations of consumers and governments
alike, many organizations are still unable to provide irrefutable Opportunity for blockchain: By recording all supply chain transactions
information regarding provenance and chain of custody. That’s on a shared and immutable ledger, blockchain provides a level of
especially true of large organizations with complex, multitiered trust previously impossible. Importantly, it offers this level of trust
supply chains. It can be particularly difficult for anchor companies to all participants (big and small) in the network. It does so by giving
(i.e., large global businesses with a lot of market power and a high- them access to the same information passed along the supply chain
profile brand) at the downstream end of a supply chain to ensure (thereby reducing fraud), by potentially minimizing communication
that small businesses (i.e., companies that are more than 10 tiers or data transfer errors, by allowing businesses to maintain oversight
upstream) are treated fairly and ethically. on outsourced manufacturing contracts, and, ultimately, by saving
businesses time previously spent validating data.12 Finally, it is
Opportunity for blockchain: By implementing a blockchain-based worth noting that smart contracts provide yet another mechanism
supply chain, businesses can effectively digitize physical assets for enhancing trust. By automatically executing a verifiable code
and create a decentralized, immutable record of all transactions that implements contract terms and conditions, smart contracts
across the end-to-end value stream.8 Paired with IoT devices and guarantee that participants in the supply chain adhere to the terms
radio-frequency identification (RFID) tags, participants can monitor defined in their contract. That helps radically reduce the risk of
the real-time conditions and movements of both perishable (e.g., incorrect or inconsistent contract execution.13
vaccines and agricultural products) and non-perishable goods
(e.g., gold and diamonds) on the blockchain thereby making it Real-life example: FedEx developed a prototype system to enable
possible to track a product from origin to delivery … all the way to real-time tracking and monitoring of shipments. The blockchain-
consumption. The blockchain creates an irrefutable product history based system provides a secure, tamper-proof, and decentralized
that anchor companies can use to enforce ethical and sustainable database that records every step of the shipment process—from
business practices upstream more effectively. Enhanced supply the point of origin to the final delivery destination. The system uses

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Using blockchain to drive supply chain transparency | Use cases and future outlook on blockchain in supply chain management

smart contracts to automate the transfer of ownership/possession Scalability

of goods between different parties, such as the shipper, carrier,
and receiver, and to ensure that all parties are aware of the current Overview: Scalability considerations—notably, processing power,
status and whereabouts of the shipment. That, in effect, eliminates high-speed internet connectivity, energy consumption, and proficient
the need for participants to trust each other. Moreover, this system storage space—are the key factors affecting public blockchains.16
helps enhance the customer experience and reduces the likelihood Given the size and growth potential of public networks compared
of disputes among various participants. In the event a dispute should to the more exclusive private blockchain networks, enterprises are
arise, the smart contract can automatically trigger a resolution more likely to leverage the latter for their business needs. However,
process, such as the return of the shipment to the original shipper.14 given the increasing globalization and interconnectivity of end-to-end
supply chains across sectors,17 enterprises may need to evaluate
the scalability of their private blockchains so they can maximize the
inclusion of supply chain partners and help mitigate the common

Key challenges for

supply chain risks noted above.

Potential mitigation: Currently, supply chain enterprises, and their

using blockchain in
internal IT functions, can explore a variety of possible scaling solutions.
For public chains, popular solutions include high-capacity layer 1
blockchains and scaling solutions such as layer 2 blockchains. High-

the supply chain capacity layer 1s are chains that allow high throughput of transactions;
however, they may make compromises on decentralization. Layer 2s
are scaling solutions that build on top of existing layer 1s to bundle
transactions before posting them back to layer 1. That way, they retain
decentralization as they still rely on the base layer’s security.
Beyond potentially enhancing supply chain resilience and
For private chains, scalability is less of a concern. That’s because the
viability, blockchain technology also presents several challenges
permissioned participants can choose to rely on high-performing
that supply chain enterprises should consider during the
hardware and lighter-weight consensus mechanisms to support
decision-making process.
transactions throughout the network. Each industry needs to decide
Interoperability on what best suits its needs based on the nature of its supply chain
network. If it needs to rely on a public chain, however, then it can use
Overview: As blockchain technology continues to mature, its various layer 1 and layer 2 protocols depending on their ability to
networks will require universal interoperability standards.15 Those scale appropriately. If it needs to deploy a permissioned chain, then it
will help ensure compatibility across different types of blockchain should forecast network usage as accurately as possible to determine
platforms and decentralized applications, as well as existing hardware requirements and the appropriate consensus mechanism.
legacy technological ecosystems. These measures will enable
cross-communications and verification of end-to-end transactions Security and privacy
throughout the supply chain networks.
Overview: Every technological solution presents a set of potential
security and privacy risks. Enterprises should bear these in mind
Potential mitigation: Currently, “bridges” help achieve cross-chain
across the exploration, design, adoption, and implementation phases
interoperability. They are typically a combination of on-chain smart
of the solution life cycle. For blockchain technology, these security and
contracts and off-chain “relayers” that work in tandem to transmit privacy risks exist across four high-level categories: confidentiality,
information from one chain to another. While this facilitates integrity, consensus mechanism, and smart contracts.18
interoperability, it may present certain trade-offs depending on
the nature of the bridges. Ideally, the off-chain relayers should Potential mitigation: Supply chain and enterprise leaders should be
be decentralized. And on-chain smart contracts should auto- sure to incorporate their IT and cybersecurity partners into strategic
validate all the transferred information to eliminate the need to discussions early and often throughout the entire solution exploration,
adoption, and implementation life cycle. By doing so, they can help
trust any intermediaries. However, this on-chain validation can
educate supply chain network participants on the best practices,
be resource-intensive and prohibitively expensive. To offset that,
key technological risks, and potential workarounds. Additionally,
certain trusted entities can be permitted to transfer information this collaboration facilitates the development of comprehensive
(instead of utilizing a decentralized network of relayers). While this IT strategic plans that can help mitigate potential risks as early as
can help mitigate the resource issues, it does require that all the possible. Figure 1 provides an overview of security and privacy risks
participants trust the bridge relayers. Ecosystem participants need along with an example of a risk evaluation matrix across different
to assess these matters collectively to arrive at common standards types of blockchain.19
based on acceptable levels of risk, performance, and trust among
the participants.

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Figure 1. Risk evaluation matrix: Security and privacy risks

Cybersecurity risk
Risk overview Public permissionless Private permissioned
area

Information stored on-chain is

accessible to all network participants.
Hence, best practices avoid storing High risk Low risk
sensitive/private data on public chain;
Confidentiality if there is an absolute need to do so, All on-chain data is Only allowed network participants can
encrypt the data. For private chains, be publicly accessible access on-chain data
sure that only honest participants join
the network.

Medium risk
The immutable nature of blockchains
Low risk
protects data integrity by design;
Private chains typically have fewer
however, smaller-sized blockchains with
Integrity Most prominent public chains have a nodes and a need for robust access
fewer nodes are more prone to data
high number of nodes measures to participate in the
compromises if a malicious actor gains
network
access to a majority of the nodes.

Consensus denotes the mechanism by

Medium risk
which network participants agree upon
Low risk
the status of the ledger. Smaller chains
Private chains typically have fewer
with fewer nodes are at a higher risk
Consensus mechanism Most prominent public chains have a nodes and a need for robust access
of attack. Such attacks can suppress
high number of nodes measures to participate in the
transactions, validate fraudulent
network
transactions, or cause a network outage.

Smart contracts are on-chain programs

that automatically execute orders
according to a code that captures
Critical risk Medium risk
agreed-upon terms. These smart
contracts are immutable. Once
If a “buggy” smart contract is deployed If a “buggy” smart contract is
deployed, they cannot be changed even
Smart contracts and used, it cannot be updated; deployed, it’s easier to kill it, deploy a
in case of a bug. The only solution for
moreover, it may be exploited once its new one, and have all the participants
a bug is to “kill” the current contract,
vulnerability is found use a new smart contract
deploy a new one, and then route users
to the new smart contract. Hence, the
audit of smart code is vital.

Source: Adrien Ogée et al., Inclusive deployment of blockchain for supply chains: Part 5 – A framework for blockchain cybersecurity, World Economic Forum, December 2019.

Stakeholder buy-in
and adoption
Overview: For global supply chain networks, the adoption of Potential mitigation: Supply chain leaders should facilitate
blockchain is still in its infancy. To spark further investment and discussions with internal and external stakeholders within the
encourage organizational buy-in, supply chain leaders should clarify organization and across supply chain networks. That way, they
the direct business value of blockchain technology to the C-suite can collectively explore the potential value-add of blockchain
of their enterprises. Leaders must also support further discussion technology and conduct cost-benefit analyses that can inform
on industry standardization of blockchain as well as the allocation future investment decisions.21
of resources to develop critical internal blockchain expertise. Only
then will leaders be in a position to advise on potential solutions,
implementation, and integration with existing ERP systems and
frameworks20 so they can minimize operational disruption.

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Case studies:
Three Deloitte-led
blockchain projects

Deloitte’s world-class Supply Case 1: Using blockchain and IoT for

shipment tracking
Chain practice helps enterprises OVERVIEW
imagine, deliver, and run their Tracking parcels or shipments in real time is possible with modern

digital supply networks to delivery services; however, data is often tied to a specific company
that manages the delivery chain. Valuable insights from collected

address tomorrow’s challenges data often end up in a centralized repository. But that limits their
availability for analysis by multiple parties and represents a lost

and opportunities. This section opportunity to optimize the management of the supply chain.

APPROACH
provides three examples of
Deloitte worked with a client to develop real-time shipment tracking.
how Deloitte teams helped To do that, Deloitte teams brought together a common blockchain
platform—Hyperledger Fabric—which underpins Deloitte’s supply
clients tackle some of their most chain prototype “Track and Trace,” together with Thingstream, a
real-time positioning tracker, and AWS technology. Strapped on to
complex supply chain issues a pallet, a sensor records the location of a shipment over any GSM
network, internationally. By tracking all data on a single ledger, the
using blockchain. sender, shipper, and receiver can build a trusted and immutable
history of the shipment’s life cycle.

IMPACT

The prototype allows real-time tracking of any object as it is shipped

across borders and without the need for human intervention to
update its location. Data is recorded immutably on a distributed
ledger. And in a network at scale, that prevents a single actor from
tampering with any data. This process is the first step in the creation
of integrated end-to-end blockchain solutions for supply chains—
solutions that can enable greater collaboration between parties and
increased transparency throughout the value chain.

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Case 2: A blockchain-based proof of concept Case 3: Supply chain tracking solution

focused on simplifying patient consent developed on Hyperledger to track medical
and biological samples management in products across different stages and actors
clinical trials in the clinical supply chain
OVERVIEW OVERVIEW

The complexity of biological sample (biosample) collection and A large pharmaceutical and biotechnology corporation had relied
management raises many challenges for clinicians who lead trials on paper-based manual processes, disparate systems, and external
and who need to guarantee patients’ consent throughout the process. organizations to transport drugs being developed in clinical
trials. These disjointed processes and systems lacked real-time
APPROACH transparency and end-to-end auditability of data.

To demonstrate the value of blockchain in solving these pain points, APPROACH

Deloitte teams developed a proof of concept (PoC) called BioTrack
& Trace. The PoC brings consent, biosample collection, biosample Deloitte created a PoC to track drugs across different stages and
storage, biosample sharing, and analysis processes all on to the among different actors in the clinical supply chain. That facilitated
blockchain. This brings together the too often isolated processes as the traceability of individual samples that were dispensed to
they are managed by doctors, clinical trial sites, biobank managers, participants in clinical trials. The solution leveraged AWS Blockchain
and researchers. By tracking these processes on a single blockchain, services, iOS and Android mobile technology, and Hyperledger
operations teams and scientists can track a sample’s location, blockchain fabric landscape. The mobile application, with Android
understand how it was collected and used, and verify the level and iOS versions, enabled barcode scanning functionality, status
of consent the trial participant provided. Similarly, it allows trial filters and counts, and blockchain connectivity.
participants to have greater control over their biosamples and gain
insights into the results of their participation in the study. BioTrack IMPACT
& Trace ultimately improves tracking mechanisms, traceability, and
This supply chain tracking application improved transparency for
consent management across the clinical trial’s value chain.
all users in the supply chain. Digitization of key processes also
IMPACT reduced the number of manual steps while streamlining the tracking
of various data sources. Most importantly, it helped the company
BioTrack & Trace allows for any actor on the blockchain to track and reduce the costs of regulatory reporting thanks to new data
trace biosamples and the consent provided by each trial participant. audit capabilities.
This is the first step in the development of a broader, industrywide
blockchain ecosystem that enables greater collaboration and
alignment between the needs and demands of pharmaceutical
companies, data standardization, analytics, patient-centricity and
retention, process simplification, and cost reduction.

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Using blockchain to drive supply chain transparency | Use cases and future outlook on blockchain in supply chain management

Conclusion:
Future outlook
for blockchain in
supply chains
Imagine a world where you can replace the currently fragmented
tracking of your supply chain with an interoperable solution, one
that can significantly reduce the risk of unethical sourcing, shipping Liked what you read?
delays, inadequate storage, or ineffective distribution of your goods.
Imagine a world where you can provide visibility into your supply Subscribe here to get
chain to your customers and regulators and furnish irrefutable proof notified of new
that you are meeting supply chain standards and expectations. And
imagine a world, where, by addressing these considerations, you insights and reports
foster deeper trust and efficiency among all the stakeholders within about Blockchain and
your supply chain.
Digital Assets.
Blockchain can help address some of the key challenges that the
supply chain industry faces today. While some technological and
operational challenges remain in implementing blockchain solutions,
Deloitte continues to work with enterprises to overcome these
roadblocks and deliver the robust and effective solutions they
need to forge superior supply chains. Given the current economic
headwinds, and as corporations and consumers alike entertain high
expectations of supply chains with fewer risks, greater visibility and
transparency, and enhanced trust, Deloitte encourages enterprises
to consider blockchain solutions as a possible antidote to their
supply chain challenges.

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Using blockchain to drive supply chain transparency | Use cases and future outlook on blockchain in supply chain management

Authors
Wendy Henry Rachana Kathawate
Global & US Consulting Senior Consultant
Blockchain & Digital Assets Leader Deloitte Consulting LLP
Deloitte Consulting LLP rkathawate@deloitte.com
wehenry@deloitte.com

Erik Chen Josh Coulter

Consultant Consultant
Deloitte Consulting LLP Deloitte Consulting LLP
erikchen8@deloitte.com jocoulter@deloitte.com

Contributors
Supreet Gupta Cici Sobin
Manager Senior Consultant
Deloitte Consulting LLP Deloitte Consulting LLP
suprgupta@deloitte.com csobin@deloitte.com

About Blockchain & Digital Assets at Deloitte

At Deloitte, our people work globally with clients, regulators, and

policymakers to understand how blockchain and digital assets
are changing the face of business and government today. New
ecosystems are developing blockchain-based infrastructure
and solutions to create innovative business models and disrupt
traditional ones. This is occurring in virtually every industry and in
most jurisdictions globally. Our deep business acumen and global
industry-leading Audit & Assurance, Consulting, Tax, and Risk and
Financial Advisory services help organizations across industries
achieve their various blockchain aspirations.

Learn more at deloitte.com/us/blockchainanddigitalassets

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Endnotes

1. Bill Lam, Rafael F. Calderon, and Christopher Entrup, “Intelligent enterprise fueling the supply chain of the future,” Deloitte Insights, November 28, 2022.

2. Poulomi Sengupta, “How blockchain technology can unlock climate solutions,” Morningstar Sustainalytics, July 27, 2022.

3. Vishal Gaur and Abhinav Gaiha, “Building a transparent supply chain,” Harvard Business Review, May–June 2020.

4. Mitsubishi Chemical Group, “Making supply chains circular,” accessed May 2023.

5. Claudius Kormann et al., Material traceability for increased circularity in the chemical industry: A blockchain-based mass balance approach using GreenToken
by SAP, GreenToken by SAP in collaboration with BASF, Mitsubishi Chemical, and SCG Chemicals, 2022.

6. Ryosuke Matsui, “Mitsubishi Logistics builds blockchain tracker for drug deliveries,” Nikkei Asia, November 28, 2022.

7. Margareta Teodorescu and Elena Korchagina, “Applying blockchain in the modern supply chain management: Its implication on open innovation,” Journal of
Open Innovation: Technology, Market, and Complexity 7, no. 1 (March 2021): p. 80.

8. Weili Yin and Wenxue Ran, “Theoretical exploration of supply chain viability utilizing blockchain technology,” Sustainability 13, no. 15 (July 2021): p. 8231.

9. Sarah K. Rathke, “Supply chain dispute resolution in the US,” Practical Law, 2015.

10. Tasneem Bulbulia, “De Beers introduces pioneer blockchain-backed diamond source platform at scale,” Mining Weekly, May 5, 2022.

11. Jim Kilpatrick and Carey Oven, “Supply chain strategies: For many companies, the traditional balance is shifting,” On the board’s agenda, Deloitte, October 2022.

12. Omar Ali et al., “A comparative study: Blockchain technology utilization benefits, challenges and functionalities,” IEEE Access 9 (2021): pp. 12730–49;
Teodorescu and Korchagina, “Applying blockchain in the modern supply chain management: Its implication on open innovation.”

13. Ali et al., “A comparative study: Blockchain technology utilization benefits, challenges and functionalities”; Muhammad Nasir Mumtaz Bhutta et al., “A survey
on blockchain technology: Evolution, architecture and security,” IEEE Access 9 (2021): pp. 61048–73; Teodorescu and Korchagina, “Applying blockchain in the
modern supply chain management.”

14. Dan Robitzski, “FedEx wants to track packages on the blockchain, so you’ll know exactly who dropped your stuff,” Futurism, May 5, 2018.

15. David Piesse, “De-risking the supply chain with blockchain technology and data integrity,” International Insurance Society, June 2021.

16. Ali et al., “A comparative study”; Bhutta et al., “A survey on blockchain technology: Evolution, architecture and security”; Sohail Jabbar et al., “Blockchain-
enabled supply chain: Analysis, challenges, and future directions,” Multimedia Systems 27 (2021): pp. 787–806.

17. Teodorescu and Korchagina, “Applying blockchain in the modern supply chain management”; Yin and Ran, “Theoretical exploration of supply chain viability
utilizing blockchain technology.”

18. Ali et al., “A comparative study”; Adrien Ogée et al., Inclusive deployment of blockchain for supply chains: Part 5 – A framework for blockchain cybersecurity, World
Economic Forum, December 2019.

19. Ogée et al., Inclusive deployment of blockchain for supply chains: Part 5 – A framework for blockchain cybersecurity.

20. Yin and Ran, “Theoretical exploration of supply chain viability utilizing blockchain technology”; Jabbar et al., “Blockchain-enabled supply chain: Analysis,
challenges, and future directions.”

21. Yin and Ran, “Theoretical exploration of supply chain viability utilizing blockchain technology.”

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