Blockchain's Impact on Parcel Tracking Systems

Abstract

Due to the rapid digitalisation of the global economy, the supply chain sector is facing significant challenges. Blockchain technology, better known for its use in cryptocurrencies may be a potential solution to these problems. The aim of this thesis is to investigate blockchain’s capability to enhance parcel tracking and data integrity. The qualitative research method will be integrated through literature reviews, case studies and empirical research. The results demonstrate, that blockchain’s immutable and decentralised nature is not only capable to increase security and transparency, but also provides stakeholders with precise and real-time tracking information, thus helping to reduce inefficiencies and losses. Like with any other innovation, there are also existing challenges to overcome, including blockchain’s technological complexity, the absence of standardised protocols and concerns regarding the stakeholder’s privacy. To address these obstacles, the thesis promotes the idea of collaboration between logistics industry leaders and policymakers. It highlights the importance of conducting further research on scalable blockchain solutions and implications on security, which can be brought by quantum computing. This study aims to find whether blockchain technology can influence the efficiency and resilience of the modern supply chain ecosystem.