Blockchain-Based Supply Chain Security: Mitigating Fraud and Cyber Attacks

Abstract

The increasing complexity of global supply chains has made them susceptible to fraud, cyber-attacks, and other security vulnerabilities. Traditional supply chain systems often rely on centralized structures that are prone to data breaches, counterfeit goods, and manipulation of records. Blockchain technology, with its decentralized, transparent, and immutable ledger system, offers a potential solution to these security challenges. This paper explores the role of blockchain in enhancing supply chain security by mitigating fraud and cyber-attacks. Through an analysis of case studies and real-world implementations, the paper highlights how blockchain can ensure product authenticity, improve traceability, and secure data integrity. Additionally, the study examines the limitations of adopting blockchain in supply chains, including technological, financial, and regulatory challenges. The findings suggest that while blockchain offers significant advantages for supply chain security, widespread adoption requires overcoming several barriers. The paper concludes with recommendations for policy changes and technological advancements to facilitate blockchain integration in supply chains, ultimately enhancing their resilience against security threats.