Blockchain technology is defined as a record system that maintains the stability of transaction data and implied for data completeness of Bitcoin for converting tokens for Bitcoin currency transaction (Ming, Leidi and George 2019). Blockchain can also be identified as decentralization data recording which will make plentiful use of avoiding avoid centralized hardware, barriers of system (Ming, Leidi and George 2019). As a result, blockchain can enable protective to privacy and openness while other events are taken in action. In consequence, blockchain has been an inspiration for other virtual currencies due to the advantage of itself. Qingyun zhu & Mahtab Kouhizadeh (2019) have stated that blockchain is basically based on the authority of radio frequency identification, internet of things, and tracking sensors, itself can accomplish progresses in Supply Chain management, connect the Supply Chain members and provide real-time data to stakeholders. Moreover, Qingyun zhu & Mahtab Kouhizadeh (2019) state that blockchain technology is a platform provider of keeping and managing records on products activities, firms and central firms can detect information regarding the traceable transactions, real-time tracking. According to Ming, Leidi and George (2019), blockchain is a technology that maintain the stability and reliability of transaction data in peer-to-peer network. In consequence, block chain can advance the Logistic through intelligent Logistic system by introducing and analysing its related big data (Yonggui & Jianming 2019). Continue to Yonggui & Jianming (2019), blockchain can secure the security of data transmission and data storage, adapt to the real-time of process of producing, operating, and data storing, so the group supervision can generate the decisions. This blockchain model will be beneficial to the Supply Chain network because of real-time tracking, verifiability, and security (Qingyun zhu & Mahtab Kouhizadeh 2019).

Conclusion 

In summary, the supply is associated with multiple parties and lasted for a long time. The Internet of things and the supply chain related to each other and help each other. Use technologies in the supply chain to ensure product and data exchange within an accurate and safe environment, like more effective order tracking and delivery because technology can quickly be fixed the mistake if the database cannot match with the customer needs and timely delivery of the product is a significant factor in ensuring buyer satisfaction. So the supply chain plus the internet of things plus technologies would create huge opportunities for higher revenue or lower costs in the integral global economic.

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Blockchain technology refers to a record system that holds important data in a secure and encrypted format to ensure transactions are not altered in a... View the full answer