Blockchain in SMEs: Technical Foundations and Applications

Blockchain has emerged as a technology that influences industries beyond its initial application in cryptocurrencies. The technical characteristics of the blockchain which establish it as a trust building mechanism, make it relevant not only for large but also for Small-Medium sized Enterprises (SMEs) in supporting business operations. In such context the use of blockchain can improve their operations, establish trust with stakeholders, and gain a competitive advantage. This chapter delves into the transformative potential of blockchain for SMEs, exploring its applications in supply chain management, smart contracts, supply chain finance, and intellectual property.