Blockchain and IoT Integration-Based Transparency of Supply Chain Social Sustainability

In the era of digitalization and automation, the integration blockchain and the Internet of Things has emerged as a powerful solution for addressing supply chain challenges such as enhancing transparency and social sustainability. The integration ensures maintaining immutable records at every step in the supply chain from raw material acquisition until it reaches the consumer end, providing much-needed product authenticity. This transparency enables product traceability and accountability besides mitigating issues like counterfeit products, fraud, illegal hoarding of products, and unethical labor practices. Moreover, trust is stimulated among stakeholders unknown to each other by providing both real-time access and tamper-proof data regarding the product to be purchased. It enhances the business reputation of the stakeholder and simultaneously contributes to the overall betterment of the society by enhancing fair labor practices and reducing the environmental footprint of the supply chain. In this chapter, the critical role of blockchain in securing the digital world is highlighted with the integration of IoT in the supply chain. The challenges of integrating blockchain and IoT are also discussed.