Blockchain in global supply chains: A comparative review of USA and African practices

Blockchain in global supply chains: A comparative review of USA and African practices

Received on 02 January 2024; revised on 08 February 2024; accepted on 10 February 2024 | Emuesiri Ejairu 1, Noluthando Zamanjomane Mhlongo 2, Olubusola Odeyemi 3, Ekene Ezinwa Nwankwo 4.*, and Olusegun Gbenga Odunaiya 5
The article "Blockchain in Global Supply Chains: A Comparative Review of USA and African Practices" by Emuesiri Ejairu, Nolutando Zamanjomane Mhlongo, Olubusola Odeyemi, Ekene Ezinwa Nwankwo, and Olusegun Gbenga Odunaiya explores the adoption and impact of blockchain technology in global supply chains, focusing on the United States and African countries. The study highlights the benefits of blockchain, such as increased transparency, traceability, and efficiency, while also addressing the challenges faced in both regions. In the United States, blockchain has been integrated into supply chain processes, emphasizing transparency, traceability, and accountability. Smart contracts have streamlined contractual agreements, reducing paperwork and delays. However, challenges include the need for standardized protocols, regulatory frameworks, and overcoming resistance to change within established systems. In Africa, blockchain offers a decentralized solution to address issues like counterfeit goods, fraud, and inefficiencies in logistics. It empowers local producers and facilitates international trade. However, challenges include limited technological infrastructure, varying regulatory frameworks, and the need for capacity building. The article concludes that both the USA and African countries stand to benefit from blockchain adoption, but successful implementation requires a nuanced understanding of local contexts, regulatory frameworks, and technological capacities. Collaborative efforts between governments, private sectors, and international organizations are essential to overcoming these obstacles. The findings provide valuable insights for policymakers, businesses, and researchers seeking to understand the global landscape of blockchain adoption in supply chains.The article "Blockchain in Global Supply Chains: A Comparative Review of USA and African Practices" by Emuesiri Ejairu, Nolutando Zamanjomane Mhlongo, Olubusola Odeyemi, Ekene Ezinwa Nwankwo, and Olusegun Gbenga Odunaiya explores the adoption and impact of blockchain technology in global supply chains, focusing on the United States and African countries. The study highlights the benefits of blockchain, such as increased transparency, traceability, and efficiency, while also addressing the challenges faced in both regions. In the United States, blockchain has been integrated into supply chain processes, emphasizing transparency, traceability, and accountability. Smart contracts have streamlined contractual agreements, reducing paperwork and delays. However, challenges include the need for standardized protocols, regulatory frameworks, and overcoming resistance to change within established systems. In Africa, blockchain offers a decentralized solution to address issues like counterfeit goods, fraud, and inefficiencies in logistics. It empowers local producers and facilitates international trade. However, challenges include limited technological infrastructure, varying regulatory frameworks, and the need for capacity building. The article concludes that both the USA and African countries stand to benefit from blockchain adoption, but successful implementation requires a nuanced understanding of local contexts, regulatory frameworks, and technological capacities. Collaborative efforts between governments, private sectors, and international organizations are essential to overcoming these obstacles. The findings provide valuable insights for policymakers, businesses, and researchers seeking to understand the global landscape of blockchain adoption in supply chains.
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