Blockchain can be visualized as a chain of blocks where each block maintains a record of valid

network activity. Each block is an encrypted piece of information and everybody is free to add data
into the network. Also, anyone can review the added data at any time but no one can modify it
without adequate authorisation. This technology helps two entities to transact with each other even
if they are complete strangers and do not trust each other. The validation of these transactions is
done through a process called mining which ensures the security of the data that is added. There are
several advantages of using this technology. Some of which are durability, transparency,
immutability and process integrity. As Blockchain is decentralized it does not have single point of
failure in the network. The risk is distributed among several points which make the system more
durable. At each of these points or nodes a copy of Blockchain is maintained which allow monitoring
in real time. Due to the need of validation the data stored at nodes is practically immutable. This also
boosts the integrity of Blockchain technology.
Blockchains have found vast variety of applications among different industries. Supply Chain
Management (SCM) is one such field where companies are analysing its utility. It consists of entities
such as physical resources, people, processes, knowledge and financial contracts etc. which assist
shipment of a product from supplier to consumer. If the supply chain system is very large it is
difficult to maintain an overall picture of transactions. The information of these transactions are
usually stored in different nodes within the Blockchain and accessible to certain systemic entities.
The customers in such system do not have access to complete information and in some case partial
information is commodity for a supplier. Hence, when the transparency is very low the entities are
indulged in transactions based on trust. The Blockchain technology comes into play here as it
increases the transparency within the supply chain in manufacturing sector as it is decentralized
distributed system. This system uses Blockchain technologies to collect, store and manage key
product information of each individual product throughout its life cycle. This distributed blocks
create a secure, shared record of transaction for each individual product with specific product
information. As a product moves through its life cycle, it is encompassed by a variety of entities such
as producers, suppliers, manufacturers, distributors, retailers and customer. Each of these entities
have an essential part to play in the system. Each product would have a unique digital profile
containing all relevant information in various lifestyle stages. The system consists of Registrars,
Standard Organizations, Certifiers, producers and distributors. Each product in the supply chain can
have an information tag in form of a barcode or QR code. This would represent a unique digital
cryptographic identifier that links a product to its identity in a network. Entities would have a digital
profile which is created while registering. The profile displays information such as description and
location associated with products. This visual identity can be presented to software as a part of the
digital profile. The system allows entities to change their privacy profiles. Entities have the option to
remain completely anonymous but it must be certified by a registered certifier to maintain the trust
in the system. The entities in the system register through a registrar which is an accreditation service
that provides a unique identity to the actors. After registration, a public and private cryptographic
key pair are generated for each entity. The public key identifies the entity in the network while the
private key can authenticate it when interacting with the system. Entities can interact with the
network by cryptographically authenticating themselves using their private key. This would allow
each product to be digitally signed by the entities when added in the supply chain.
References
https://www.researchgate.net/profile/Radmehr_Monfared/publication/308163874_Blockchain_Rea
dy_Manufacturing_Supply_Chain_Using_Distributed_Ledger/links/57fe2dde08ae7275640133b0/Blo
ckchain-Ready-Manufacturing-Supply-Chain-Using-Distributed-Ledger.pdf