Blockchain, DLT and Fintech

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Paper Type

Complete

Paper Number

2221

Description

Tracing products through increasingly distributed and complex supply chains is a significant challenge. The blockchain technology is supposed to solve many problems as it promises to save time, avoid costs, reduce risk, and increase trust among the participants. It leads to many approaches that enable tracking and tracing of goods in supply chains. We found out that the proposed solutions are unnecessarily complicated and that there was no defined process to introduce a blockchain-based tracing solution in companies using lean principles. Therefore, we utilized a value stream mapping approach to develop a simple tracing mechanism based on colored coins and show how they can be implemented in companies. The resulting tracing mechanism and implementation process were evaluated with the partners of a joint research project and showed excellent future development potential.

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Dec 14th, 12:00 AM

Tracing Back the Value Stream with Colored Coins

Tracing products through increasingly distributed and complex supply chains is a significant challenge. The blockchain technology is supposed to solve many problems as it promises to save time, avoid costs, reduce risk, and increase trust among the participants. It leads to many approaches that enable tracking and tracing of goods in supply chains. We found out that the proposed solutions are unnecessarily complicated and that there was no defined process to introduce a blockchain-based tracing solution in companies using lean principles. Therefore, we utilized a value stream mapping approach to develop a simple tracing mechanism based on colored coins and show how they can be implemented in companies. The resulting tracing mechanism and implementation process were evaluated with the partners of a joint research project and showed excellent future development potential.

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