Challenges, Threats and Advantages of Using Blockchain Technology in the Framework of Sustainability of the Logistics Sector

Abstract

Due to the complexity and lack of transparency of traditional supply chains, the introduction and development of blockchain technology is of great interest to the stakeholders involved in the logistics process to improve logistics processes in the supply chain and make them more sustainable. A detailed analysis has been made for the logistics industry in this study, which is discussed to investigate the undeniable benefits of blockchain technology. Today, when we try to determine our application methods in line with sustainable development purposes, it is seen that the logistics industry gains many advantages when it is integrated with blockchain technology. For this purpose, SWOT analysis has been applied as a result of literature review for logistics management, which is one of the sub-activities of supply chain management that applies blockchain technology, and contributes to the application potential in the logistics industry. At this point, some of the strengths that will require the use of blockchain technology in the logistics sector are decentralized structure, effective information sharing, fast response, robust risk management, interprocess integrity, etc. While its weaknesses are low performance, having a complex structure and high energy consumption can be the problem. In addition, some of the opportunities that the sector will gain are the ability to optimize time, solve problems, gain competition, increase sustainability; on the other hand, external threats, cross-integration adoption, new technology, limited data privacy etc. is happening. Accordingly, its potential contribution to the logistics industry is explained in detail in this article.