Leveraging Blockchain Smart Contracts For Transparent And Efficient Knowledge Management In Digital Information Systems

Abstract

The growth of global networks in Supply Chain Management (SCM) has seen supply chains becoming more complex, and there is a need for improvement in this area concerning transparency, efficiency, and security issues. The technology of blockchain integrated with smart contracts provides an innovative approach to handling these challenges. This paper introduces the concept of smart contracts enabled by blockchain in the SCM, coupled with IoT and a graphical MIS dashboard for operation. The decentralization of the system is based on Ethereum, which allows the incorporation of certain components that need automation: triggers for the payment process, compliance with the specified quality, and logistics tracking, thus creating a transparent environment for all interested parties. Industries that handle commodities and need real-time tracking and tracing use IoT items like GPS trackers, environmental sensors, and so on, and the MIS console supplies intuitive analytics and audit-compliant reporting capabilities. The proposed framework serves SCM's main pain points of fraud minimization, operational timeliness, and regulatory compliance. However, issues like energy consumption, compatibility, and scalability problems still exist, which require future evolutions like migrating from PoW to PoS, introducing sophisticated IoT-AI synergy, and using Layer-2-related solutions. Therefore, this research shows that blockchain smart contracts can become an innovation of SCM and transform the supply chain environment to be open and independent.