Research on the economic aspects of the use of blockchain technologies in the management of production chains

Abstract

This article is dedicated to the study of the economic aspects of applying blockchain technologies in supply chain management. In recent years, blockchain has established itself as a promising tool for improving the transparency, security, and efficiency of various business processes. In particular, its implementation in supply chain management can radically transform traditional business methods, reduce costs, and increase the competitiveness of companies. The aim of this study is to identify and analyze the key economic benefits and challenges associated with the use of blockchain in supply chains. The study includes a review of current literature on the implementation of blockchain technologies in various economic sectors. Specific cases and examples of successful blockchain integration in the production processes of large international companies are also considered. The main results of the study show that blockchain can significantly improve supply chain management by automating processes, eliminating intermediaries, and reducing the time required for operations. This, in turn, leads to a reduction in operational costs and a decrease in fraud risks. Additionally, blockchain provides a high level of data transparency and reliability, which significantly increases trust among supply chain participants. However, despite numerous advantages, the implementation of blockchain also comes with several challenges. These include high initial costs for technology development and integration, network scalability limitations, and the need to create a new regulatory framework for blockchain operations. The conclusion of the article emphasizes that successful implementation of blockchain technologies in supply chain management requires a comprehensive approach, including the coordination of efforts among all stakeholders, investments in training and competency development, and further research to identify optimal strategies for using this technology.