SESCF: A Secure and Efficient Supply Chain Framework via Blockchain-Based Smart Contracts

The demands for the fairness, security, and efficiency of the supply chain have grown significantly due to the rise of globalization. However, some problems of the information flow, logistics, and capital flow in the supply chain remain a challenge, such as the information asymmetry between upstream and downstream, substandard quality of goods, difficulty in traceability, and default of payment. Therefore, this paper proposes a blockchain-based supply chain framework (SESCF), which solves the supply chain problems securely and efficiently. First, the use of blockchain and smart contracts ensures the information symmetry in the supply chain system. Second, the radio frequency identification (RFID) provides a unique identity of goods, which helps in real-time quality monitoring. Additionally, the immutability and distributed storage of the blockchain play an important role in tracking the origin of goods. Third, the efficient payment channel is used to solve the problem of payment defaults. Furthermore, simulations of smart contracts along with the security analyses are presented in this paper. We also implement a blockchain-based supply chain system (SescfDapp), which is built upon a Consortium blockchain. Large-scale experiments and detailed analysis prove the feasibility and efficiency of our proposed system.

Automated summary

This paper presents a blockchain-based supply chain framework (SESCF) that addresses supply chain issues securely and efficiently through ensuring information symmetry, introducing RFID technology, and solving payment defaults.