A COMPREHENSIVE STUDY ON BLOCK CHAIN TECHNOLOGY IN SUPPLY-CHAIN MANAGEMENT

Block chain is the basis of all cryptocurrency in the world like Bitcoins. Block chain is used for transactions of bitcoins globally without the use of any third party medium. As the internet is used for global decentralized communication, in the same way block chain is used for decentralized transactions globally. It helps in saving the supplier and consumer ends from third party involvement, tolerance network, prevention of data manipulation, and reduction in operational costs. It was first invented in 1991 and later reintroduced to the world in 2008 by Satoshi Nakamoto and now after a decade later with block chain 2.0 it is expected to be not only used in cryptocurrency but also in electronic industry in the supply chain management, electronics manufacturing industry and power and energy system. Block chain is considered as the new form of information technology that could revolutionize technology, industry, and commerce and make it a transparent, safer and reliable place. Blockchain's has a limitless potential for recordkeeping in decentralized form. From greater user privacy and heightened security to lower processing fees and fewer errors, due to less human intervention, this technology can be introduced in many applications in the future