Securing Supply Chain: A Comprehensive Blockchain-based Framework and Risk Assessment

Cyber attacks on data, networks, and software have become a crucial problem for supply chain management due to the globalization, decentralization, and digitalization. Blockchain provides an ideal platform for business stakeholders to address issues with modern supply chains, such as traceability, interoperability, and transparency. However, adopting blockchain is challenging as it introduces risks to the supply chain.In this paper, we propose a blockchain-based framework to manage the supply chain and enable a trust-based feedback mechanism, fostering trust among supply chain stakeholders. Moreover, we perform a qualitative risk assessment for adopting blockchain in the supply chain management process, based on standards provided by the National Institute of Standards and Technology (NIST). Our assessment shows that if a threat is imminent, the risk associated with the consensus, limited fixed verification capacity, and inter-autonomous system communication is high in a blockchain-based supply chain that uses proof of authority.