International Workshop on Successful Strategies in Supply Chain Management Sample Template Paper

5. 
Conclusion
This research set out to explore how blockchain technology may transform supply chains. We 
did so by exploring the answers to two RQs, i.e. why is blockchain technology important to 
logistics and supply chain sector (RQ1) and where are disruptions mostly likely to occur 
(RQ2). Via a comprehensive literature review and 14 expert interviews, we found that the 
perceived benefits such as improved tracking and traceability in an end-to-end supply chain 
and efficiency gains through automation and reduction of complexities are the main 
motivational factors that help to explain why blockchain matters to supply chain. We further 
identify areas where blockchain may penetrate in supply chains, namely, supply chain tracing 
and tracking, supply chain disintermediation, simplification and digitalisation of supply chain 
process and smart contract. We also reveal challenges to its further diffusion. We contribute 
to the literature by articulating the reasons why blockchain technology is important to supply 
chain management and by locating areas where it may bring value to supply chain. Our 
research thereby offers valuable insights to both practitioners and academics in this field to 
prepare them to embrace this emerging technological innovation.
Our research has a few limitations. First, the literature review only covers the five-year time 
window. Though we are confident of the scope and quality of our review process, given the 
fast development of blockchain, it is likely that we may have omitted some publications that 
are relevant to the subject. Our second limitation is the limited number of expert interviewees. 
Though appropriate for an explorative study, a more diverse range of participants will result 
in more robust findings and more in-depth understanding of the subject. Given the infancy 
nature of blockchain, there are plenty of research opportunities for future. For example, one 
interesting avenue for research is to examine whether blockchain will revolutionise the 
concept of trust in supply chain. Traditionally to build trust, companies need to establish long-
term relationship with their supply chain partners or via mutual investment in the supply chain. 
Yet with blockchain, companies perhaps do not have to ‘trust’ their partners to the same 
degree as you do with traditional supply chain partners, given that trust is pre-built in a 
blockchain system. Studies could also explore how digital currency/cryptocurrency could 
affect the cash flow and supply chain structure. It is not impossible if supply chain partners 
start to trade and settle their payment using cryptocurrency. For instance one company may 
wish to pay the other in accessing to massive amount of data generated by Internet of Things 
devices. Research looking into how blockchain may disintegrate or reintegrate supply chains 
(i.e. by removing intermediaries) is also worthwhile. Different theoretical lenses and multi-
methodological approaches should be deployed to understand the phenomenon and 
disruptions blockchain may further contribute to our understanding of blockchain and its 
further diffusion in supply chain. Currently acclaimed benefits from blockchain are mostly 
speculative and lack of empirical evidences, a longitudinal study following its pre-adoption, 
implementation and routinisation into supply chains will help to demystify and justify the 
value of blockchain to real practices. Finally, the dark side of blockchain (legal, ethical and 
security issues) needs to be explored, particularly in areas such as supply chain governance.